Photo Credit: Mast Capital
While the national real estate scene has experienced a slowdown, Miami emerges as a notable exception, experiencing a surge in financing activities. Mast Capital, a leading real estate development and investment firm in Florida, has achieved a significant milestone by securing a groundbreaking $600 million construction loan for its luxurious condominium tower, Cipriani Residences, located in Miami's bustling Brickell neighborhood.
This financing achievement represents the largest single-tower loan ever secured by a developer in Florida and is the result of collaboration between lenders Banco Inbursa and Ascendant Capital Partners. The substantial infusion of funds will drive the construction of an 80-story residential tower featuring 397 residences, set to begin construction soon and scheduled for completion by 2028. The successful acquisition of such a sizable construction loan underscores the project's outstanding pre-sale performance, distinguished architectural design, extensive lifestyle amenities, and prime location within Brickell.
Photo Credit: Mast Capital
The financing arrangement for Cipriani Residences Miami is part of a series of significant real estate construction loans in South Florida, totaling nearly $2 billion over the past two months. Notable projects include The Ritz-Carlton Residences in Pompano Beach, Casa Bella Residences in Downtown Miami, Vita at Grove Isle in Coconut Grove, FATVillage in Fort Lauderdale, Sundy Village in Delray Beach, and the 600 Miami Worldcenter condominium in Downtown Miami, highlighting the region's thriving real estate investment landscape.
Photo Credit: Mast Capital
Mast Capital's strategic acquisition of the 2.8-acre site at 1420 S Miami Ave. in Brickell for $103 million in December 2021 secured one of the last available parcels of raw land suitable for large-scale high-rise development in the area. With residences starting at $1.7 million, the luxury condominium tower, designed by Arquitectonica and interior design firm 1508 London, promises to redefine upscale living in Brickell.
Cipriani Residences Miami is poised to become a landmark development, underscoring Mast Capital's dedication to excellence in real estate development. This reinforces Miami's position as a premier destination for global investors and discerning homeowners alike.
Photo Credit: Mast Capital
