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| Brickell Flatiron Condominiums, Financial District, Downtown Miami, FL |
MIAMI, FL –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged financing totaling $236
million for the development of Brickell
Flatiron, a 64-story, 549-unit, ultra-luxury residential condominium tower
located in Miami’s Brickell financial district.
HFF worked on behalf of
the developer, Miami-based CMC Group, to secure a $138.3 million senior loan
and a $97.968 million mezzanine loan.
Loan proceeds will be used to complete the project and market the
remaining units.
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| Jim Dockerty |
Brickell Flatiron is being
constructed on a 1.1-acre site at 1001 South Miami Avenue across from The Shops
at Mary Brickell Village and within walking distance of the Brickell City
Centre mixed-use development.
Upon completion in
mid-2019, the project will be the tallest residential tower south of New York
City, complete with world-class amenities such as a rooftop amenity deck with
signature spa, fitness center, swimming pool with cabanas and juice bar;
private movie theater; meeting rooms; specialty wine cellar; concierge service;
and state-of-the-art smart home technology.
Soaring 736 feet above street level, the
property was designed by Revuelta Architecture International with features,
including all-glass elliptical balconies, custom Italian finishes,
professional-grade German appliances and panoramic views of Biscayne Bay and
the downtown skyline. Sales to date at
Brickell Flatiron are in excess of $300 million.
The HFF debt placement
team representing the developer was led by managing director Jim Dockerty.
“Even though the debt
market was extremely tight for luxury condominium projects such as Brickell
Flatiron, CMC’s extraordinary track record and ability to deliver best-in-class
product attracted strong interest in the financing,” Dockerty said.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza,
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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