Sunrise Realty Trust commits $23M in subordinate loan for Excel Miami Apartments

Sunrise Realty Trust (SUNS) has committed $13.0 million to a $26.0 million subordinate loan for the development of the Excel Miami Apartments, a 24-story multifamily tower located at 1550 NE Miami Place in Miami’s Art & Entertainment District. An affiliated entity committed the remaining $13.0 million of the total loan amount. Centennial Bank provided a $68.5 million senior construction loan, with Jay Brito orchestrating the senior loan transaction. The Sponsor is Clearline Real Estate, a real estate investment and development firm led by Jenny Bernell. Clearline is headquartered in New York and Miami and focuses on multifamily real estate investments across growing U.S. regions. Excel Miami Apartments is designed to blend modern living with the vibrant artistic culture of downtown Miami. The development was envisioned by design architect Arquitectonica, elevating the standard of multifamily architecture in the area with a sleek, contemporary aesthetic. The Project will total 214,183 rentable square feet, with 427 apartments offering studio, one-bedroom, two-bedroom and 13 townhouse loft units. The building’s amenity floor will feature 18′ ceilings and includes a pool, yoga deck, fitness room, co-working space, screening room and podcast suites. Located near the Metromover School Board Station, Excel offers a transit-friendly lifestyle in the heart of Miami, making it an ideal option for professionals seeking convenience and connectivity.