HFF secures $236M for luxury residential tower in Florida

WCN Editorial Team 24 Apr 2017 NORTH AMERICA BUILDINGS

Holliday Fenoglio Fowler (HFF) has arranged $236M in funding for the development of CMC Group’s 64-storey ultra-luxury residential condominium tower in Brickell financial district, Miami, Florida.

HFF secured a $138.3M senior loan and a $97.9M mezzanine loan for the project. Loan proceeds will be used to complete the development, as well as market the remaining units.

Jim Dockerty, HFF managing director, said: “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.”

Brickell Flatiron, designed by Revuelta Architecture International, will be built on a 1.1-acre site and will feature 549 units. The tower, to soar 736ft above street level, will include a rooftop amenity deck with signature spa, a swimming pool with cabanas and juice bar, a fitness centre, a private movie theatre, meeting rooms, and a specialty wine cellar.

The tower will incorporate all-glass elliptical balconies, custom Italian finishes, German appliances and will offer panoramic views of Biscayne Bay and the downtown skyline.

The building will become the tallest residential tower south of New York City and is expected to be complete in mid-2019.

* Data provided by Timetric's Construction Intelligence Center.

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US



World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2021 GlobalData. All rights reserved.