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January 13, 2025
Cadwalader represented JVP Management as lender in the financing of a major mixed-use development in the center of Miami-Dade County, announced on January 7.
Terra Group, a South Florida real estate development firm, secured a $187 million loan from JVP Management for the first phase of its Centro City project, a 38-acre mixed-use development located near Miami's Little Havana neighborhood. The loan will be used for the project's multifamily residential component. Terra Group also secured an additional $104 million loan for Centro City's retail component. The loans will be used to pay off the project's existing construction financing and to complete the construction of the multifamily residential component. Once completed, Centro City's first phase includes 350,000 square feet of renovated and new retail space, along with three multifamily buildings containing 470 market-rate apartments.
The Cadwalader Real Estate team was led by Bonnie Neuman and includes Sulie Arias, Krista Gresia, Michael Genoino, Molly Lovedale and Wilson Chow.
