Developers of a 32-story tower at Miami Worldcenter are preparing to break ground after preselling all units and obtaining a construction loan.
Merrimac Ventures and Aria Development Group obtained a a $95 million construction loan from Banco Inbursa to build the new tower, known as 600 Miami Worldcenter.
Groundbreaking is upcoming, with completion expected in 2026.
“600 Miami Worldcenter has been one of our most anticipated and fastest-selling developments, which was appealing for our lenders at Banco Inbursa,” said Nitin Motwani, Managing Partner of Merrimac Ventures.
Buyers at the sold-out tower are mostly from the U.S., Colombia, Turkey and Argentina.
Units are being delivered fully finished and furnished, and will allow short term rentals.
Other nearby towers allowing short-term rentals are also sold out.
They include The Crosby Miami Worldcenter with 450 condos (on the same block, developed by Merrimac and Related Group), and 501 First with 476 condos (one block away, developed by Aria in partnership with AQARAT).