JLL arranges $300 Million construction loan for 830 Brickell in Miami, FL

830 Brickell Tower, Miami, FL

Scott Wadler

MIAMI, FL – JLL announced it has arranged a $300 million construction loan for the development of 830 Brickell, a 1.03 million-square-foot, 56-story, Class A, marquis tower that includes nearly 615,000 square feet of rentable space in the heart of Brickell, Miami’s financial district and premier office market.

JLL worked on behalf of the developers, a joint venture between OKO Group and Cain International, to secure the four-year construction loan through MSD Partners. 

The JLL Capital Markets team representing the borrower included Managing Director Scott Aiese, Senior Director Scott Wadler, Director Jesse Wright and Associate Alex Staikos.

 Vladislav Doronin

“Miami is not only a globally important capital of commerce for international companies, it is also becoming increasingly attractive to domestic firms,” said Vladislav Doronin, Chairman and CEO of OKO Group. 

“The 830 Brickell tower will provide these businesses with access to the core of Miami’s financial district, as well as world-class architecture, design and advanced functionality that this gateway city and its workforce demands.”

Scott Aiese

“As Miami continues to expand as a global gateway for business, we are proud to be a part of its growth and diversification,” added Jonathan Goldstein, CEO of Cain International. 

“We hope that the addition of 830 Brickell will provide a solution for businesses to find a home with luxury modern amenities and conveniences in the heart of Miami’s business center."

830 Brickell is positioned to be the leading office tower in South Florida with world-class architecture and design. 



Anticipated for delivery in first quarter 2022, 830 Brickell is ideally positioned at 830 SE 1st Avenue in the epicenter of Brickell, directly adjacent to Brickell City Center, a $1.5 billion mixed-use development that anchors the neighborhood and provides an abundance of retail and food & beverage amenities within its 560,000 square feet of curated stores and restaurants. 

Jesse Wright

Brickell City Center has been a catalyst for the residential development in the surrounding area and today there are more than 4,400 luxury units within two blocks of 830 Brickell. 

Additionally, tenants at 830 Brickell can access a MetroMover station just steps from the property, providing connectivity through the central business district, and proximity to Interstate 95 allows those traveling by car to easily traverse the region.

“We’re excited to see this world-class office tower added to the epicenter of Brickell, which we believe will become the aspirational address for tenants in this gateway market,” Aiese said.

“OKO and Cain bring a new caliber of development to the Miami market with 830 Brickell’s design features and construction quality,” Wadler added.

Alex Staikos

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page:

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. 

Jonathan Goldstein

About MSD Partners

MSD Partners, L.P. is an SEC-registered investment adviser that was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital (the private investment firm for Michael Dell and his family). 


MSD Partners utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. 

Michael Dell

MSD Partners is headquartered in New York with additional offices in Santa Monica and West Palm Beach.

Contact: 

Kimberly Steele
JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: Kimberly.Steele@am.jll.com

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okogroup.com

Trez Forman Funds $11 million loan for adaptive reuse project in downtown Birmingham, AL

  

Planned Mercantile on Morris, 2209-2215 1^st Avenue North, Downtown Birmingham, AL

Birmingham, Al and Palm Beach, FL — An Alabama developer received an $11.227 million loan fromTrez Forman Capital to fund redevelopment of a prime piece of property in downtown Birmingham, Alabama.  

Orchestra Partners is planning a four-story condominium building and 14,170 square feet of retail/restaurant space at 2209-2215 1^st Avenue N., where three older and smaller residential buildings currently exists.

  

Brett Forman

The loan, which closed August 6, was arranged by Brett Forman, president/CEO of Trez Forman and Russ Holland, a Trez Forman managing director who oversees the lender’s Atlanta office. 

Trez Forman has a relationship with the borrower who successfully built and sold out another residential community in downtown Birmingham called Founder’s Station.

This new adaptive reuse project, named Mercantile on Morris, is located on an iconic downtown street in a highly walkable neighborhood.

Orchestra Partners plans on bringing in boutiques, restaurants and bars to the ground-floor retail space.   

The community boasts 47 condominium units ranging in size from 289 square feet micro-units to 2-bedroom/2-bath residences of 994 square feet.  Nearly half have been pre-sold.  

Russ Holland

Prices range from $99,000 to $329,900 and the developer will arrange financing on purchases up to 100 percent of the cost. 

All of the units will feature historic elements and building materials with modern finishes. Residents will have views of either the Morris Avenue, 1^st Street or a courtyard and have access to a terrace that overlooks a pedestrian plaza.

“Based on the success our borrower had with their first residential building in the area, we anticipate they will hit another home run with Mercantile on Morris,” said Forman.

 “It’s a quality project in a popular part of the downtown. It’s priced right for working professionals in the central business district who desire a live, work, play lifestyle.”

CONTACT:

  

Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

ekalis@boardroompr.com

O 954-370-8999

C 954-290-0810

www.trezforman.com.

RKW RESIDENTIAL Represents Prestigious Assignment at LeFrak and Turnberry’s Shoreline at Solé Mia; Generates Significant Leasing Activity

Shoreline at Solé Mia in North Miami

Miami, FL — RKW RESIDENTIAL, a leading multifamily property management company, continues its expansion in South Florida with a signature asset: Shoreline at Solé Mia in North Miami.

The two-building, 397-unit community is part of LeFrak and Turnberry’s transformative Solé Mia mixed-use project.

 The Shoreline is the first property RKW has managed and leased for the prolific developers. More than 80 percent of the newly completed East Tower is already leased in just a few months.

Johnny De La Espriella

 A $4 billion development on 184 acres at 15055 Biscayne Blvd., Solé Mia is one of South Florida’s most anticipated mixed-use developments. It features a seven-acre swimmable lagoon designed by Crystal Lagoons.

 The lagoon, which is the first of its kind in Florida, recently opened and is already extremely popular with residents.

 “It is an honor to embark on this new partnership with LeFrak, Turnberry and the entire team at SoléMia,” said Johnny De La Espriella, regional vice president of RKW.

“Shoreline is a crown jewel for our growing South Florida portfolio. We look forward to continuing our successful lease-up of both towers.”

 Apartments at Shoreline range from 600 to 1,300 square feet, with a mix of studio, one, two and three-bedroom units. Interior features include floor-to-ceiling windows, stainless steel appliances and balconies with glass amenities.

Shoreline also offers an array of amenities, such as a pool deck with a spa and cabanas, a fitness center with Peloton bikes, a yoga studio with Fitness on Demand, outdoor dining and grilling areas, a pet grooming station, game room, business center, fitness trail, club room, 24/7 concierge and electric car charging stations.

Mario Gaztambide

 Renowned architect Arquitectonica designed the buildings.

 “Our working relationship with RKW is off to a fantastic start,” said Mario Gaztambide, senior managing director, residential properties at LeFrak. “Collectively, we are all so excited to see our residents enjoy the unparalleled lifestyle at Shoreline.”

 For RKW, The Shoreline assignment folds into first quarter of 2019 in which the company added more than 1,700 units in North Carolina and South Florida to its portfolio.

 In May, the Charlotte Business Journal recognized RKW in its annual list of the largest property management companies in the area for the second consecutive year. The company moved up five spots to No. 7 in the 2019 edition.

 The company was also recognized by South Florida’s Daily Business Review as the top multifamily property management firm of 2018 in the publication’s annual “Best Of” rankings.

 CONTACT:

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

www.rkwresidential.com