Financing Closes on $1.5B Brickell Condo Project
Newgard Development Group and Two Roads Development Group closed on $513 million in construction financing for their One Brickell Riverfront project site at 99 S.W. Seventh St.
Carlyle and 3650 Capital have led a group of lenders that provided loans for what is believed to be a $1.5 billion project.
The South Florida Business Journal reports that it is one of the largest construction loans to close in South Florida so far this year.
The One Brickell Riverfront development, near Brickell City Centre, comprises two high-rise condominium towers on a shared podium. Lofty Brickell, at 44 stories, would have 362 residences, while the 46-story Standard Residences, Brickell would include 422 residences.
Amenities in the development would include a private marina, resort-style pool deck, fitness centers, spas, a cigar lounge, co-working spaces, a bowling alley, and a lounge.
Miami-based Arquitectonica designed the project, while GT McDonald Enterprises is the general contractor. The targeted completion date is August 2027.
Other News
Synergy Hosts Official Opening for Massachusetts’ Largest Office-to-Resi Conversion
Synergy held the official opening of Altitude Worcester, the largest office-to-residential conversion in Massachusetts, with a ribbon cutting ceremony with Juana Matias, the Secretary of the Massachusetts Executive Office of Housing and Livable Communities , and the City of Worcester. The event also marked the completion of 22 Elm St., the adjacent affordable homeownership community Synergy...
Learn more
MBTA Issues RFQ for Redevelopment of Lynn Commuter Parking Garage
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
Learn more
Kidder Mathews Arranges Sale of 45-Unit Multifamily in Walla Walla
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout