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Clearline Real Estate has secured construction financing for the Excel Miami Apartments, a 24-story multifamily tower in downtown Miami. Centennial Bank provided a $68.5 million senior construction loan on behalf of the project while Sunrise Realty Trust has committed $13 million to a $26 million subordinate loan.

“We’re excited to partner with Clearline Real Estate on the Excel Miami project, located in the Arts & Entertainment District, one of Miami’s most sought-after and rapidly evolving neighborhoods,” Jay Brito, senior vice president, senior commercial loan officer, Centennial Bank, told Multi-Housing News. Brito orchestrated the senior Centennial Bank loan transaction.