Marina Palms Yacht Club & Residences, located in North Miami Beach, has secured a $98 million loan to fund construction of a residential tower located on the north side of the waterfront property, according to a news release.
Marina Palms features two 25-story towers with a combined 468 residences.
Construction began on the North Tower in September. Coastal Construction is serving as general contractor.
HSBC Bank USA is the lender.