Wynwood Haus Receives Construction Loan From OZK Bank

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Development team of TSG, Lineare Group and Bridge Investment Group.  From left to right: Diego Bone, Camilo Lopez.  George Samarjian, Jorge Escobar, Alejandro Bonet, David Coelho, Andrew Chon

Development team of TSG, Lineare Group and Bridge Investment Group. From left to right: Diego Bone, Camilo Lopez. George Samarjian, Jorge Escobar, Alejandro Bonet, David Coelho, Andrew Chon

TSG, Lineare Group and Bridge Investment Group have received nearly $ 38 million in construction loans for a multi-unit project in the Zone of Opportunity in Wynwood.

OZK Bank is the lender of Wynwood Haus, a 224-unit building under construction at 1765 North Miami Avenue, according to the development group and property records. The developers laid the groundwork for Wynwood Haus over two weeks ago.

The project is one of a series of condominiums under construction in South Florida as developers and lenders remain optimistic about the sector’s growth.

The 20-story Wynwood Haus will house studios, one and two-bedroom apartments ranging from 394 square feet to 945 square feet. The apartments will reportedly have floor-to-ceiling windows, balconies, washers and dryers, and 10-foot ceilings.

Rendering Wynwood Haus

Rendering Wynwood Haus

Luis Flores, Managing Partner of Saul Ewing Arnstein & Lehr LLP in Miami, represented the developers in funding.

Bridge Investment Group joined the project Earlier this year. TSG and Lineaire bought a development site in 2019 for $ 5.9 million.

The building with commercial premises on the ground floor is expected to be completed in the first quarter of 2023.

The Opportunity Zone project also received $ 14 million in benefits from the Omni Community Redevelopment Agency in Miami to make some of the apartments housing for workers.

Last month, the Rilea Group closed an apartment building facility at 56 Northeast 29th Street in Wynwood due to $ 22 million

Other developers investing in Wynwood include Property Markets Group, which has partnered with Greybrook Realty Partners to build Wynwood Society apartment project. A related group is also active in the neighborhood, most recently planning a couple 12-storey buildings in which there will be apartments, retail outlets and offices.

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