Oak Row Equities secures $210.5m financing for 2900 Terrace, luxury Miami tower to break ground in Edgewater

Why did Oak Row Equities secure $210.5 million to launch its luxury tower 2900 Terrace in Miami’s Edgewater?

Oak Row Equities, a vertically integrated real estate development and private equity firm based in Miami and New York, has secured $210.5 million in construction financing for 2900 Terrace, a new ultra-luxury rental tower located in Miami’s Edgewater neighborhood. The funding package comprises a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. With full financing now in place, the project is set to break ground imminently, with completion and tenant delivery expected in the fourth quarter of 2027.

Founded in 2018 by Erik Rutter and David Weitz, Oak Row Equities has rapidly scaled its portfolio across high-impact development zones in South Florida. The 2900 Terrace project represents a strategic response to Miami’s undersupply of high-end multifamily rental units, particularly two- and three-bedroom residences that cater to design-forward, long-term renters. Located on a rare 1.5-acre parcel east of Biscayne Boulevard, 2900 Terrace is envisioned as Edgewater’s first purpose-built, condo-quality luxury rental tower.

Oak Row’s focus on high-bar development in core urban markets has drawn increased attention from institutional investors. The developer now has over $3.9 billion in real estate projects under development and continues to attract capital partnerships with top-tier lenders like Bank OZK and Canyon.

How does the Edgewater submarket in Miami support Oak Row Equities’ multifamily strategy for 2900 Terrace?

Miami’s Edgewater neighborhood has evolved into a high-demand residential zone over the past decade, driven by its central location between Wynwood, Midtown, and Downtown Miami. The area offers immediate access to Margaret Pace Park, upscale retail and dining corridors, and key transport routes including I-95 and the future Brightline commuter rail expansion.

Oak Row Equities identified Edgewater as an underserved market for larger-format luxury rentals. Analysts point to a persistent gap between available supply and renter expectations in the area, especially in premium buildings offering private terraces, expansive floor plans, and full lifestyle amenities. The 2900 Terrace project directly responds to these dynamics, aiming to provide an alternative to both the older rental inventory and the high-cost condominium segment.

As investor demand continues to shift toward stable, income-producing multifamily assets in top-tier locations, Edgewater has emerged as a focal point for development capital. The neighborhood’s zoning capacity, waterfront positioning, and influx of cultural and commercial tenants add to its appeal as a long-term real estate investment cluster.

What design features and amenity offerings distinguish 2900 Terrace from other rental projects in the Miami urban core?

2900 Terrace was designed by internationally acclaimed architecture firm Arquitectonica and will feature 324 oversized rental units, many with wraparound terraces, home offices, and Biscayne Bay views. The design emphasizes scale and light, offering layouts that rival for-sale condominiums in quality and finish.

Oak Row Equities has prioritized wellness, creativity, and flexibility throughout the development. Indoor amenities will include a state-of-the-art fitness center, yoga and meditation spaces, a pet spa, content creator studios, co-working lounges, treatment rooms, and a theater. The outdoor program is anchored by a landscaped south-facing deck with a pool, hot tub, cold plunge, summer kitchen, BBQ zones, padel courts, a children’s playground, and recreational terraces.

The ground floor experience is also meticulously planned. Landscaped setbacks more than 10 feet from the street create informal gathering zones, while the covered loggia arrival space and over 500 vehicle parking spaces—including EV charging stations—enhance tenant experience.

Architecturally, the building’s warm bronze-like tones, perforated metal textures, and charcoal-accented windows contrast against off-white stucco, forming a sophisticated and durable façade. These material choices were selected to elevate both the street-level interaction and skyline presence of the tower.

What does the financing package for 2900 Terrace signal about investor confidence in Miami’s high-end rental sector?

The financing deal, structured with participation from Bank OZK and Canyon Partners Real Estate, is one of the largest debt arrangements in Edgewater’s residential development cycle in recent years. Bank OZK, which provided the senior loan, has a track record of backing institutional-grade developments in gateway markets. This is its third financing deal with Oak Row Equities in the past three years, reflecting continued lender confidence in the developer’s execution and project selection.

Canyon Partners Real Estate, responsible for the mezzanine tranche, has invested more than $1.4 billion in Florida real estate across 41 transactions. The firm has a diversified investment mandate but has increasingly focused on luxury multifamily assets in primary and transitional U.S. markets.

JLL Capital Markets’ debt advisory team, which represented Oak Row Equities in arranging the package, noted that the strong capitalization reflects both the strength of Oak Row’s track record and the viability of Edgewater’s luxury rental market.

Institutional sentiment surrounding South Florida’s urban multifamily market remains upbeat. Analysts continue to cite favorable migration trends, high household income growth in target neighborhoods, and the lack of comparable large-unit rental inventory as structural tailwinds. While construction costs and interest rates remain pressure points, investors appear comfortable backing experienced developers with product specialization and land in premium submarkets.

What other major developments is Oak Row Equities pursuing in South Florida beyond 2900 Terrace?

Oak Row Equities is currently under contract for South Florida’s largest land acquisition to date—a 4.25-acre waterfront site in Brickell for $520 million. Located at 1001 and 1111 Brickell Bay Drive, the property features 485 linear feet of Biscayne Bay frontage and zoning for over three million square feet of vertical development. Oak Row plans to construct branded ultra-luxury condominiums and a high-end hotel at the site, with towers potentially rising to 1,049 feet.

In the commercial segment, Oak Row continues to set benchmarks. Its Wynwood office complex, The Oasis, secured landmark leases with Amazon (76,000 square feet) and Spotify (20,000 square feet for their South Florida and Latin American HQ). These leases represent some of the largest and highest-priced transactions in their submarkets and further establish Oak Row as a preferred landlord for global tenants in Miami.

Analysts expect the firm’s next development wave to leverage its multifaceted vertical integration across acquisitions, development, design, and leasing—positioning Oak Row Equities to continue shaping the real estate profile of Miami’s urban core.

How are institutional investors evaluating future outcomes for 2900 Terrace and Oak Row Equities’ pipeline?

With delivery set for Q4 2027, 2900 Terrace enters the development cycle amid an evolving economic backdrop. However, institutional investors remain broadly positive on the long-term outlook for South Florida’s urban residential sector. Migration tailwinds, tax advantages, and constrained land availability continue to support asset performance, especially in lifestyle-rich zones like Edgewater and Brickell.

Analysts view 2900 Terrace as a bellwether for the next generation of Miami luxury rentals—well-financed, architecturally distinct, and programmatically designed for post-pandemic renter expectations. The tower’s scale, location, and unit mix offer diversification benefits for debt and equity holders alike.

Looking ahead, Oak Row Equities is expected to deepen its footprint in both residential and commercial real estate segments, driven by a formula that combines precision site selection, marquee design partners, and layered capitalization strategies. As interest in high-yield, lifestyle-oriented urban developments remains strong, projects like 2900 Terrace are likely to become case studies for institutional success in Miami’s ever-transforming skyline.