DORAL, FLA. — Codina Partners has obtained a $38.8 million construction loan for the third phase of Downtown Doral’s retail expansion. Ocean Bank provided the loan. Downtown Doral is a 250-acre mixed-use district in South Florida, and the third phase will add nearly 25,000 square feet of retail space along 87th Avenue, with 932 dedicated garage parking spaces for retail visitors. UHealth – University of Miami Health System has leased 11,243 square feet on the north end of the expansion for UHealth Way, which will include comprehensive eye care from the Bascom Palmer Eye Institute and physical therapy services, such as hand therapy and pelvic floor rehabilitation. The south portion of the expansion includes 13,644 square feet of retail space divided into nine customizable units — seven on the ground floor and two on the second floor. The expansion project is scheduled to break ground in the second quarter, with an estimated completion in 2026.
