Barrington Brothers has obtained $60.9 million in construction refinancing for the development of The Kavista, a 282-unit project in Miami. Värde Partners provided the two-year, floating-rate loan in a transaction arranged by a JLL Capital Markets team led by Melissa Rose.

Commercial Edge reports the note retires a $60 million construction loan originated by Trez Capital in March 2022. A few months later, work started on the eight-story building and completion is expected next month. The development team also included general contractor ANF Group and designer MODIS Architects, along with landscape firm Nielsen Landscape Architect

The Kavista will comprise one-, two- and three-bedroom layouts, ranging from 567 to 1,389 square feet. Apartments will feature washers, dryers, quartz countertops and private balconies in select units.

Common-area amenities include a fitness center, business center, clubhouse and swimming pool with deck. Additionally, the property will have a media room, a coworking lounge, EV charging stations and some 350 parking spaces.

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