Miami: Marina Palms gets $98M construction loan for residential tower

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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.

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