WRE News: The Fifth Miami Beach Secures $47.3 Million Construction Financing from Cain International

Miami Beach, FL – December 29, 2023 – In a major milestone for Miami Beach’s South of Fifth neighborhood, renowned real estate developers Sumaida Khurana and Bizzi Partners have secured a $47.3 million construction loan for The Fifth Miami Beach — A rare addition to Miami Beach’s highly residential South of Fifth neighborhood. This five-story Class A+ office building, designed by Spanish master architect Alberto Campo Baeza, marks his inaugural commercial project in the United States. Situated at the corner of 5th St and Michigan Ave, the LEED Certified building, set to complete in 2025, will offer 60,200 SF of office, retail, and restaurant space, with 20% already pre-leased. Designed by Gabellini Sheppard, with Cube 3 Architecture as the executive architect and Urban Robot Associates overseeing the landscape, the building embraces a bio-centric design with glass, white marble, and white concrete elements. The interiors feature a monumental marble lobby, 14-foot ceilings, floor-to-ceiling windows, and private outdoor terraces for every office. Tenants will enjoy shared amenities such as a landscaped rooftop, a fitness center, multiple dining options, and valet parking, emphasizing sustainability and health through advanced air quality systems.