Terra

Slate Property Group's permanent loan replaces the $170M construction note Terra drew from Slate affiliate Scale Lending to build the transit-adjacent project.

Dockage, not dirt, is the binding constraint on South Florida waterfront, and it has started pricing like product.

A county park-and-ride becomes housing. Phase one proves the public-private TOD template can actually deliver units.

A marquee waterfront site, a $100M bet, and an entitlement path that runs through voters and wetlands regulators.