Rilea Group Lands $150M for Miami Development
The community is slated for completion in 2028.
Rilea Group has secured a $150 million financing package for the construction of Mohawk at Wynwood, an upscale 300-unit project underway in Miami’s Wynwood Arts District. The community is expected to come online in 2028.
Nuveen Green Capital issued $124.2 million in C-PACE capital—the largest C-PACE-financed multifamily transaction in Florida. The capital stack also included a $25 million senior loan originated by ABANCA USA. Franklin Street Senior Director Javier Herrera arranged the deal.
Coastal Construction serves as general contractor for this project, marking the firm’s sixth residential development with Rilea Group.
A closer look at Mohawk at Wynwood
Mohawk at Wynwood will feature studio, one-, two-, and three-bedroom residences, including lanai units with private backyards. Shared amenities are to include rooftop pools and lounges, a padel court, a Turkish spa, coworking lounges, children’s play areas and a rooftop dog park. The 12-story development will also have ground-floor retail spaces, which were 33 percent leased at the time of the deal.
The site is at 56 NE 29th St., equidistant between downtown and Miami International Airport. Major thoroughfares in the area include interstates 95 and 395, U.S. routes 1, 27 and 441, as well as Florida State routes 9 and 112.
The condo tower next door to Mohawk
In a partnership with Ciprés, Rilea Group is also developing a condominium project adjacent to Mohawk at Wynwood, dubbed The Rider Residences. The 12-story tower comprises 146 residences that will allow both short- and long-term rentals, without any restrictions. Construction at the high-rise began in February 2025, with completion slated for 2027.
In November 2025, the partnership secured $90 million for The Rider Residences from Banco Inbursa, Miami Community News reported at the time. Franklin Street’s Herrera arranged this transaction as well.
Miami keeps on building
In the first eight months of 2025, the South Florida multifamily market saw 7,725 units brought online, according to a recent Yardi Matrix report. The figure, accounting for 2.0 percent of existing stock, was 10 basis points below the national average.
The metro’s multifamily construction pipeline currently includes 17,705 units across 68 properties, the same data provider shows. Most of them are market rate, namely 10,524 units across 38 projects.
