LCOR Lands $193M for Miami Rental Tower
Plans call for 544 units on Biscayne Boulevard
By Julia Echikson July 2, 2026 12:35 pm
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LCOR has scored a $192.5 million construction loan for a multifamily tower along Biscayne Boulevard near Miami’s Edgewater neighborhood, property records show.
The debt from the New York branch of the French bank Natixis will fund a 42-story high-rise at 1775 Biscayne Boulevard, adjacent to Northeast 17th Terrace, a block from Margaret Pace Park, bordering between Edgewater and the Arts & Entertainment District.
The development, known as 1775 Biscayne, will house 544 apartments, 50,000 square feet of amenity space, a 449-spot parking garage, and about 10,000 square feet of ground-floor retail. Construction is expected to be completed in fourth quarter of 2028, per a representative for LCOR.
The Berwyn, Pa.-based developer, which focuses on multifamily development, purchased the 1-acre site for $49 million in 2022, per records.
The project marks LCOR’s first development in South Florida. Miami boasts the most competitive rental market in the country, with 96.4 percent occupancy, according to 2025 a report from Rentcafe.
IPA Capital Markets, a division of Marcus & Millichap, arranged the transaction, with a team consisting of Max Herzog and Andrew Cohen.
Julia Echikson can be reached at jechikson@commercialobserver.com.
