Marcus & Millichap unit IPA Capital Markets arranges $43 million construction loan for Miami-area multifamily project
MMI•Construction financing arranged for Lyra Palmetto Bay
- IPA Capital Markets, a Marcus & Millichap unit, arranged $43 million in construction financing for Lyra Palmetto Bay in Greater Miami.
- Financing was secured with Pearlmark Real Estate Partners for a 192-unit multifamily development in Palmetto Bay, Florida.
- The project targets renters earning 80%–120% of area median income under Florida’s Live Local Act.
- Completion is expected in December 2027.
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