Mercedes-Benz Places Miami Lines Up $1.11 Billion in Construction Financing: What Brickell Buyers Should Know
Artist’s rendering above: Mercedes-Benz Places Miami, from the developer sales presentation. Renderings are conceptual.
Term sheets are signed for the 67-story Brickell tower’s financing, Commercial Observer reports, but the deal has not closed. Here is what that means if you are weighing a pre-construction contract.
Mercedes-Benz Places Miami, the 67-story condo, hotel and office tower planned at 140 SW 11th St. in Brickell, has signed term sheets for about $1.11 billion in financing, according to Commercial Observer. J.P. Morgan is leading the package and providing an $860 million construction loan, and Nuveen Green Capital is in the process of providing roughly $250 million in C-PACE financing, the outlet reported on Sept. 30, 2026, citing sources. The deal has not closed; sources told Commercial Observer it is expected to close by year-end. For buyers, a major-bank construction loan is one of the clearest signals that a pre-construction tower is moving toward delivery, though a term sheet is not a closed loan.
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What financing has Mercedes-Benz Places Miami lined up?
Per Commercial Observer, the $1.11 billion package has two parts. Sources said J.P. Morgan’s $860 million construction loan is collateralized by the entire project, while Nuveen Green Capital’s Commercial Property Assessed Clean Energy (C-PACE) financing will be collateralized by the commercial component only. Walker & Dunlop is negotiating the financing, the outlet reported.
Who is developing the tower, and what will it include?
JDS Development is the original developer. Fontainebleau Development, led by Jeffrey Soffer, joined as a partner earlier this year after the project became embroiled in a foreclosure suit, and the two now develop it together, per Commercial Observer. When completed, the outlet reports, the tower will include 791 luxury condos, a 174-key hotel, 200,000 square feet of office space, 130,000 square feet of amenities, a parking garage and a park.
Mercedes-Benz first lent its name to the tower in 2024, its first branded real estate project in the U.S., the outlet noted. Per the developer’s website, residences range from studios to three bedrooms, designed by SHoP Architects with interiors by Woods Bagot, and SERHANT. New Development handles sales.
Why does construction financing matter to a pre-construction buyer?
In pre-construction, the biggest question is whether the building gets built, and when. A construction loan is the capital that pays for the build, so a major lead lender with signed term sheets is a meaningful step toward delivery, especially for a project that, per Commercial Observer, took on a new partner after a foreclosure suit.
Two cautions. Signed term sheets are not a closed loan, so watch for confirmation of the year-end close. And financing does not set your delivery date. The developer’s website does not publish a completion date or a price list, so get current pricing, the deposit schedule and the outside completion date in writing before you sign.
How does it fit Brickell’s branded pipeline?
Mercedes-Benz Places joins a crowded field of branded Brickell towers. For context, see our guide to Brickell’s new luxury developments and the Brickell Branded Tower Matrix, which compares St. Regis, Mandarin Oriental, Nobu and Cipriani side by side.
HL Real Estate Group represents buyers and is not the developer’s sales team. An advisor can request the price sheet and condominium documents for you.
Mercedes-Benz Places Miami quick facts
| Address | 140 SW 11th St., Brickell, Miami (Commercial Observer) |
|---|---|
| Developers | JDS Development and Fontainebleau Development (Commercial Observer) |
| Program | 67 stories; 791 condos, 174-key hotel, office (Commercial Observer) |
| Residences | Studios to three bedrooms (developer’s website) |
| Financing | About $1.11 billion: J.P. Morgan $860 million construction loan; Nuveen Green Capital about $250 million C-PACE (Commercial Observer) |
| Financing status | Term sheets signed; not closed; close expected by year-end (Commercial Observer) |
| Pricing and delivery | Not published on the developer’s website |
Frequently asked questions
Has Mercedes-Benz Places Miami closed its construction loan?
Not yet. Term sheets have been signed for the roughly $1.11 billion package, and sources told Commercial Observer the deal is expected to close by year-end.
Who is financing Mercedes-Benz Places Miami?
J.P. Morgan is leading with an $860 million construction loan; Nuveen Green Capital is providing about $250 million in C-PACE financing, per Commercial Observer.
How much do residences cost, and when will the tower be finished?
The developer’s website does not publish a price list or a completion date. Request both in writing before you sign.
Sources: Commercial Observer (Sept. 30, 2026); the developer’s website, miami.mercedesbenzplaces.com (checked Oct. 1, 2026); Florida Statutes section 718.202 (Florida Senate). Details subject to change.
Get the Mercedes-Benz Places Miami price sheet & deposit schedule