Northlink Capital has secured $85 million of construction financing to develop a Miami Beach luxury condominium project, Commercial Observer has learned.

Deutsche Bank provided the loan, which will refinance past debt and fund ground-up construction of the 12-story condo tower at 7200 Collins Avenue in Miami Beach’s North Beach neighborhood. 

Arrow Real Estate Advisors arranged the transaction with a team consisting of Morris Betesh, Alex Bailkin and Matt O’Hanlon. 

“7200 Collins brings efficiently designed, accessibly priced residences to one of North Beach’s premier oceanfront locations,” Betesh, managing partner at Arrow Real Estate Advisors, said in a statement. “With 96 percent of units under contract at closing, the project reflects strong buyer demand.”

The 274,150-square-foot condo towers will comprise 222 units ranging from studios to two-bedrooms. Resident amenities will include a beach club, a swimming pool, a fitness center and rooftop sundecks along with ground-floor retail.

Northlink Capital and Deutsche Bank did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.