JLL Secures Significant Financing for Premium Condominium Project
JLL's Capital Markets group recently announced a remarkable achievement in securing over $565 million in construction financing for The Residences at 1428 Brickell. This ultra-luxury condominium tower, set to redefine high-end living, is positioned in the prestigious Financial District of Miami.
Representing Innovation and Luxury Living
In this project, JLL played a pivotal role by representing Y-Tech, the borrower, in arranging a 4.25-year floating-rate loan through notable financial institutions, JP Morgan and Sculptor. This strategic partnership exemplifies the trust and ambition behind this groundbreaking development.
A Vision for Eco-Friendly High-Rise Living
The Residences at 1428 Brickell is more than just a residential development; it’s a vision of the future. Designed by world-renowned architects Antonio Citterio of ACPV Architects and Arquitectonica, the tower will be globally recognized as the first high-rise residential building to incorporate solar technology in such a manner. With over 500 photovoltaic-integrated glass panels spanning nearly 20,000 square feet, the building will harness solar energy to enhance sustainability.
Exclusive Amenities Designed for Modern Lifestyles
Residents will enjoy unparalleled luxury, with 195 exclusive homes featuring floor plans ranging from two to four bedrooms and ample living space that extends from 1,800 to 8,900 square feet. The development dedicates an impressive 80,000 square feet solely to amenities, including resort-like pools, wellness facilities, and a rooftop observatory that promises expansive views and relaxation.
Market Demand and Project Progress
As of now, The Residences at 1428 Brickell has demonstrated impressive market demand, with 57% of the units presold. This indicates strong interest in ultra-luxury housing within the Brickell area. The interiors will feature top-of-the-line finishes, with Gaggenau appliances and exquisite cabinetry by Arclinea and Vaselli, along with luxurious natural stone and marble elements throughout.
Development Team and Groundbreaking Contributions
An expert team drives this project, including ACPV Architects and Arquitectonica, with Coastal Construction serving as the general contractor. Cervera Real Estate is managing sales, ensuring that this ambitious project moves forward smoothly. The groundbreaking ceremony took place in late 2024, marking a significant milestone with the completion of the largest mat foundation pour ever executed in Brickell.
Strategic Leadership at JLL
The Debt Advisory team at JLL, which represents Y-Tech in this venture, is led by Senior Managing Directors Melissa Rose, Brian Gaswirth, and Christopher Peck, along with Director Paul Adams and Associate Nicole Diaz. This team’s expertise is crucial in navigating the financial landscape, which adds to the credibility of the project.
Building for the Future
Melissa Rose expressed excitement about this partnership, highlighting the innovative sustainability features and the world-class design team’s role in contributing to an iconic addition to Miami's skyline. JLL Capital Markets is a leader in delivering comprehensive capital solutions tailored to real estate investors, thanks to its vast global presence and local market insights.
About JLL
JLL, a premier global commercial real estate and investment management company, has served clients for over 200 years. With a robust revenue of $23.4 billion and a workforce exceeding 112,000 employees across more than 80 countries, JLL is poised to shape the future of real estate with a commitment to sustainability and excellence.
Contact Information
Please reach out to Gréta Kieras, Senior Associate, Public Relations at JLL for more information. You can contact her via phone at +1 949 930 8498 or email at greta.kieras@jll.com.
Frequently Asked Questions
What is The Residences at 1428 Brickell project?
The Residences at 1428 Brickell is an ultra-luxury condominium tower being developed in Miami's Financial District, featuring 195 exclusive homes.
Who arranged the financing for this project?
JLL's Capital Markets group arranged over $565 million in financing for this ambitious construction project.
What unique features does the condominium offer?
The project will incorporate innovative sustainability features including a solar backbone, making it a landmark in luxury residential development.
What amenities can residents expect?
Residents will have access to extensive amenities, including resort-level pools, a wellness facility, and a rooftop observatory.
When is the expected completion date for the project?
The Residences at 1428 Brickell is slated for delivery in Q4 2028.
