Mast Capital has successfully obtained a $600 million construction loan for its Cipriani Residences Miami, an 80-story luxury condominium tower. This marks a new record for the largest single-tower residential construction loan ever secured in Florida. The financing was provided by Mexico-based Banco Inbursa and Ascendant Capital Partners, with contributions of $350 million and $250 million respectively. The highly-anticipated development offers 397 residences.
In December of last year, Mast Capital acquired the 2.8-acre site at 1420 S Miami Ave., paying $103 million for one of the few remaining parcels available in Brickell suitable for a large-scale high-rise project. Designed by renowned architect Bernardo Fort-Brescia from Arquitectonica, this condominium tower is set to become an iconic addition to the city’s skyline.
With prices starting at $1.7 million, Cipriani Residences Miami boasts market-leading offerings including one- to four-bedroom units ranging from 1,123 to 3,495 square feet as well as penthouses with private pools. Completion is expected in2028.
The transaction was arranged by Newmark’s team led by Jordan Roeschlaub and Dustin Stolly.
