Miami-based developer Mast Capital has secured a construction loan of $600 million, setting a new record for the largest single-tower residential construction loan ever obtained in Florida for Cipriani Residences Miami. The loan comes from Mexico-based Banco Inbursa and Ascendant Capital Partners, contributing $350 million and $250 million, respectively.
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International Law Firm Kirkland & Ellis Inks 115K SF Lease At OKO Group and Cain International's 830 Brickell
Kirkland & Ellis, one of the largest law firms in the U.S., will open a Miami at 830 Brickell, the Class A+ tower nearing completion in the city’s Brickell Financial District. The firm signed a six floor, 115,000 square-foot lease at the tower, the largest new-to-market office lease signed in Miami in 2022. The 55-story tower will be 100% leased ahead of its delivery in early 2023.
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Lerner Acquires Motion at Dadeland High-Rise Multifamily For $114 Million
The Maryland-based Lerner Enterprises has acquired Motion at Dadeland for $114 million from the development partnership of 13th Floor Investments, Adler Group and Barings. Lerner received a loan from capital managed by KKR to finance the acquisition.
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Global Consulting Firm Slalom Signs 8,000 SF Lease At Sterling Bay's 545wyn
Global consulting firm Slalom will be moving into Wynwood after signing a lease at Sterling Bay and J.P. Morgan Asset Management’s 545wyn, Wynwood’s first-ever Class-A creative office building. The lease, which marks Slalom’s first office footprint in South Florida, covers approximately 8,000 SF.
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Witkoff And Monroe Capital Acquire Cancelled Marriott Maquis Miami Worldcenter Site For $94 Million
The New York City-based real estate investment group Witkoff and the Chicago-based Monroe Capital have acquired the site of the now cancelled Marriott Marquis Miami Worldcenter from MDM Group for $94 million. The 4.7 acre site is located at 700 North Miami Ave.
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Miami-Based Private Equity Group Galium Capital Expands Houston Portfolio with Acquisition of 431-Unit Tate at Tanglewood
Galium Capital, LLC, a Miami-based private equity group, has announced the acquisition of Tate at Tanglewood in Houston, TX. The Tate at Tanglewood is a 431-unit institutional-grade multifamily apartment building in Galleria District of Houston. The transaction closed on May 27, 2021.
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Hedge Fund Mogul Steven Cohen's Point72 Asset Management Signs Lease At Nuveen's 701 Brickell
Point72 Asset Management, a hedge fund led by legendary hedge fund mogul and owner of the New York Mets, Steven Cohen, has signed a lease at Nuveen Real Estate’s 701 Brickell office tower. Point72 Asset Management, which has over $20 billion in assets under management, leased 9,000 SF in the 33-story, 648,708 SF building.
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