Natura Gardens in Miami

Terra, New Valley Secure $127 Million to Refinance Natura Gardens in Miami

by Channing Hamilton

MIAMI — Development partners Terra and New Valley have secured $127 million in permanent financing for Natura Gardens, a 460-unit complex in the West Hialeah neighborhood of Miami. Keith Kurland, Aaron Appel, Jon Schwartz, Adam Schwartz and Michael Diaz of Walker & Dunlop’s New York Capital Markets team arranged the financing. The funds will be used to pay off and refinance an existing $65 million construction loan, which Bank OZK provided in 2021.

Natura Gardens was completed in the summer of 2023. Situated on a 23-acre site, the garden-style community offers one-, two- and three-bedroom units with shaker-style kitchen cabinetry, stainless-steel appliances, full-size washers and dryers, walk-in closets and balconies. Amenities include a two-story clubhouse with a pool and spa, entertainment kitchen, a lounge, fitness center, business center, children’s playground and a dog park.

Pascual, Perez, Kiliddjian Architecture was the architect for the development. V Starr Interiors completed interior designs for the clubhouse and model units. Natura Gardens was 97 percent leased at the time of the deal. Rental rates range from approximately $2,000 to $3,350 per month.

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