Oak Row Equities, a real estate investment and development firm with offices in New York and Miami, has secured a $181 million construction loan for a new, mixed-use tower in Miami’s increasingly popular Edgewater neighborhood.

2600 Biscayne will include 399 luxury apartments that span from studios to three-bedroom units. The property is also set to feature 187,000 square feet of office and retail space across the 41-story tower’s first 11 floors. The project’s office and retail component are already 50% preleased, according to a statement from the developer.

The $181 million construction loan from Little Rock, Arkansas-based Bank OZK was arranged by Newmark’s Dustin Stolly, Jordan Roeschlaub, Chris Kramer and Daniel Matz.

A groundbreaking is slated for this spring with completion expected sometime in 2026, a spokesperson for the developer confirmed to CoStar News.

The mixed-use development will occupy a city block at 2600 Biscayne Blvd., a major Miami thoroughfare that anchors the city’s Edgewater neighborhood and leads to the city center a little over two miles farther south. The area has seen its popularity explode over the past decade as adjacent neighborhoods like Wynwood, Midtown and the Design District are increasingly built out.

The growth has led residents and developers alike to eye Edgewater as one of Miami’s next major submarkets. Multiple luxury condos are under development along the waterfront, and a new Whole Foods is expected to open soon in the area. Along the Florida East Coast railway, where Brightline's yellow trains run through the neighborhood back and forth from MiamiCentral station to stops farther north, a planned commuter rail station about a block away from 2600 Biscayne has already spurred additional development.

In the release, Erik Rutter, managing partner at Oak Row Equities, said that “2600 Biscayne elevates Edgewater with superior office space and rental residences of a quality that currently doesn’t exist in this submarket."

Office tenants can expect a designated lobby, touchless entry and elevators, divisible floor plates, 14-foot ceilings with floor-to-ceiling glass and private tenant balconies. The 12th floor will have an outdoor and landscaped rooftop terrace, open-air seating and covered picnic areas, as well as an outdoor wellness and yoga deck. The tower's residential portion will have a separate entrance for residents. The tower will include 600 parking spaces and electric vehicle charging stations, and a public art display by artist Derrick Adams along its western facade.

Farther north in Wynwood, Oak Row Equities, alongside L&L Holding, is wrapping up development on the recently topped off Wynwood Plaza, a 1 million-square-foot mixed-use campus at 95 N.W. 29th St., and future home of billionaire Marcelo Claure’s Claure Group upon completion.