Naftali Secures $465M Financing for Miami Condos/Apartments
The Naftali Group secured a combined $465 million in construction loan financing for the development of JEM Private Residences in Downtown Miami. Nuveen Green Capital (NGC provided $235 million in C-PACE financing, while Bank Hapoalim (BHI) supplied an additional $230 million in traditional construction loans.
Located within Miami Worldcenter, JEM Private Residences is a 67-story luxury tower designed by Arquitectonica and Rockwell Group, featuring 259 residences that begin on the 43rd floor. There will be 530 apartment units below the 43rd floor. The company closed earlier this year on a $75 million financing package to get started.
Its 50th-floor amenity suite offers resort-style living with a 60-foot outdoor pool , indoor Sky Lounge, state-of-the-art fitness center, boxing arena, yoga patio, spa suite with steam, salt, and sauna rooms, along with a co-working space and spirits tasting room for refined social experiences.
The project is now rising past its sixth level and remains on track to be completed in Q4 of 2027.
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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