TD Bank provides $64M construction loan for Miami-Dade apartments

By: Brian Bandell for the South Florida Business Journal

The Estate Cos. obtained a $64 million construction loan for its Soleste Midtown apartment and commercial development in Homestead.

TD Bank provided the mortgage to the South Miami-based developer for the 20.8-acre property at the southeast corner of Southwest 312th Street/Campbell Drive and Northeast 30th Avenue. The deal was brokered by James L. Fried of Sandstone Realty Advisors.

The Estate Cos. bought the vacant land from Baptist Health South Florida for $14 million in May. It’s located just south of Homestead Hospital.

The Estate Cos. said it will begin construction of Soleste Midtown in December. It’s slated for 354 garden-style apartments, about 43,000 square feet of commercial space and 1,000 parking spaces. The Midtown Group will develop and own the commercial space.

“This transformative project will bring much needed market rate housing to Homestead,” Fried stated. “It’s a textbook example of placemaking.”

Soleste Midtown will feature six apartment buildings of five stories each, with apartment ranging from 676 to 1,131 square feet. It will include a 7,000-square-foot clubhouse, a pool and a playground.

The six commercial buildings will front Campbell Drive. The developer has yet to announce any tenants.

The project should be completed in the second quarter of 2026.

The Estate Cos. is one of the largest multifamily developers in South Florida. It has more than 4,000 apartments and 153,000 square feet of commercial space in its pipeline.

This is part of a development boom in southern Miami-Dade County as more people seek less expensive housing, even though it’s a good distance from the urban core.

External Source: TD bank gives The Estate Companies loan for Soleste Midtown in Homestead – South Florida Business Journal