JV Completes Brickell Assemblage, 60-Story Tower on Way
A joint venture between Prosper Group and Belgium’s Versluys Group closed on a three-parcel assemblage for $50 million. Vaster provided a $30.5 million acquisition loan. The off-market site was acquired from Two Roads Development and Newgard Development Group.
The assemblage is located at 66 SW 6th Street, 625 SW 1st Avenue, and another lot without an assigned address. The one-acre assemblage will pave the way for an upcoming waterfront residential tower on the Miami River in Brickell.
Prosper Group and Versluys Group will deliver a $650 million, 60-story tower featuring 181 residences and more than 300 feet of direct river frontage.
Situated directly on the Miami River, the development will offer immediate access to Brickell’s urban core, including the dining, retail, and entertainment at Brickell City Centre. Waterfront access will provide direct connectivity to Biscayne Bay and Miami’s broader boating network.
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CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout