Alta Developers broke ground on an apartment tower in the Dadeland area of Miami-Dade County after securing a $60.55 million construction loan.
CMTG Lender 63 LLC, in care of Mack Real Estate Credit Strategies in New York, provided the mortgage to Alta 9600 Phase I LLC, managed by Felipe Raimundo Onetto and Juan Ignacio Montes, the principals of Miami-based Alta Developers. The funding covers the first phase of the project on the two-acre site at 9600 S. Dixie Highway.
Doral-based Jaxi Builders recently filed notice with the county that it started construction of 296 apartments and 14,662 square feet of retail called Alta 9600.