Doral, Fla. — Codina Partners has received a $38.8 million construction loan for the third phase of Downtown Doral, a 250-acre mixed-use development located roughly twelve miles west of Miami in Doral. Ocean Bank provided the loan. The third phase of the project will add nearly 25,000 square feet of retail space along 87th Avenue, with 932 dedicated garage parking spaces for retail visitors.
UHealth – University of Miami Health System has leased 11,243 square feet on the north end of the development for UHealth Way, which will offer comprehensive eye care from the Bascom Palmer Eye Institute and physical therapy services.
The south portion of the project will include 13,644 square feet of retail space divided into nine customizable units — seven on the ground floor and two on the second floor. Codina Partners is scheduled to break ground on the third phase of development in the second quarter, with completion scheduled for 2026.