MIAMI, Dec. 20, 2023 - JLL Capital Markets announced today that it has arranged the $115 million financing for Metro Edgewater, a 279-unit, 32-story, recently completed, Class A apartment tower located in the Edgewater neighborhood of Miami, Florida.
JLL worked on behalf of the borrower, a consortium comprised of Lujeni Corp, Camino Capital Management, and Building Block Realty.
Metro Edgewater will feature spacious one-, two- and three-bedroom units averaging 955 square feet with balconies, walk-in closets, European-style unit finishes, nine-foot ceilings, stainless steel appliances, quartz countertops and hardwood and plank vinyl flooring. Community amenities will include a hotel-style pool with cabanas and day beds, state-of-the-art fitness center, live-work club room, a sky lounge, a private dining room and a coffee bar.
The property is less than a 10-minute drive to Downtown Miami and Brickell, Miami's Central Business District with over 30 million square feet of office space. Notable nearby employers include Citadel, Spotify, Microsoft and JP Morgan, amongst many others.
The JLL Capital Markets Debt Advisory team was led by Managing Director Jesse Wright, Senior Managing Director Elliott Throne, Director Kenny Cutler, Associate Joshua Odessky, and Senior Analyst JJ Hovenden.
"This refinancing is the culmination of years of hard work on the part of the borrower. Metro Edgewater is a first-class product in one of Miami's most attractive neighborhoods, adding to the Miami skyline. MF1 delivered a very smooth execution in the midst of a highly dynamic market," added Wright.
The MF1 Capital financing was led by Michael Squires, Phil Pesant and Connor Pensabene.
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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Inc. published this content on 20 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2023 16:00:58 UTC.
