Florida East Coast Industries receives $250M construction loan for Miami Central Station

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miami central station
A perspective of the Brightline Miami Central Station

Florida East Coast Industries, The Brightline parent company owner, has obtained a $250 million construction loan for the Miami Central Station development.

Pacific Life Insurance Co. is the lender, according to the South Florida Business Journal. DT Residential South and DT Residential North are the borrowers.

The construction loan is for 800 apartments to be completed by the end of 2018.

The All Aboard Florida project is split into two sections: the 9-acre transit hub in downtown Miami that’s being built alongside the existing Government Center Metromover Station, plus a separate 12-story tower with office space, parking and a grocery store.

All Aboard is building three mixed-use towers that will sit above the project’s elevated rail tracks, including the two residential towers with 800 apartments, Two Miami Central with 190,000 sq. ft. of Class A office space, and 180,000 sq. ft. of retail space.
The construction loan matures in March of 2027.