Sunrise Realty Trust Commits $13.0 Million in a Subordinate Loan for Excel Miami Apartments

WEST PALM BEACH, Fla., Nov. 18, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $13.0 million to a $26.0 million subordinate loan for the development of the Excel Miami Apartments (“Excel” or the “Project”), a 24-story multifamily tower located at 1550 NE Miami Place in Miami’s Art & Entertainment District. An affiliated entity committed the remaining $13.0 million of the total loan amount. Centennial Bank provided a $68.5 mi ...