$413M construction financing secured for luxury mixed-use development in Miami's Brickell District

NEW YORK, Apr. 29, 2025 – JLL Capital Markets announced today that it has secured $413 million in construction financing for One Twenty Brickell Residences, a luxury mixed-use development in Miami, Florida.

JLL represented the borrower, Property Markets Group (PMG), in arranging the loan through Monarch Alternative Capital.

The development, located at 120 SW 8th St. in the heart of Brickell, comprises two towers: a 41-story tower with 537 multifamily residential units and a 37-story tower with 266 condominium units. The project is strategically positioned less than one block from Brickell City Centre and Mary Brickell Village, offering residents unparalleled access to premier shopping, dining, and entertainment options.

The multifamily tower will be operated by the Sentral Management Platform. The condominiums of One Twenty Brickell Residences have demonstrated exceptional presale velocity since launching sales approximately 12 months ago and having now sold over 91 percent of units. The project’s unique offering includes fully finished and furnished units with each coming with a deeded private office suite.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Directors Christopher Peck and Brian Gaswirth, Senior Directors Nicco Lupo and Nick Lavin, Director Jimmy Calvo and Associate Paul Adams.

"This significant financing for One Twenty Brickell Residences highlights the continued strength and appeal of Miami's luxury real estate market," commented Peck. "The project's unparalleled Sponsorship team, coupled with its prime location in Brickell made it an attractive financing opportunity in today's market."

The development is set to further enhance Brickell's skyline and offer residents a sophisticated urban living experience with high-end amenities and breathtaking views of the Miami skyline and Biscayne Bay.

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 sales and 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.

For more news, videos and research resources, please visit JLL’s newsroom. 

Since 1991, Property Markets Group (PMG) has grown into a premier national investment, development, and asset management firm focused on large-scale mixed-use residential projects. Today PMG is run by Managing Partners Ryan Shear and Dan Kaplan, currently operating across Florida, New York, Colorado, Tennessee, and Georgia. Their vertically integrated team has departments specializing in acquisitions and land use, design and architecture, construction management, capital markets, asset management, sales and marketing, as well as significant in-house legal and accounting capabilities.

PMG’s current pipeline across pre-development, construction, lease-up, and sell-out totals more than 10,000 residential units and over 20 million square feet of development. Previously announced rental projects under the Society Living brand include locations in Denver, Nashville, Atlanta, Brooklyn, Orlando, Fort Lauderdale, and Miami. Notable current condominium projects include 111 West 57th Street in New York City; E11EVEN® Club Hotel & Residences & E11EVEN® Club Residences Beyond, 38 West Eleventh Residences, One Twenty Brickell Residences, Waldorf Astoria Hotel & Residences and The Elser Hotel & Residences in Miami; Sage Intracoastal in Fort Lauderdale; One Park Sarasota on Florida’s west coast; and Waldorf Astoria Residences Denver Cherry Creek in Colorado. PMG is additionally growing its Affordable Housing division nationally. For more information, visit propertymg.com.

Monarch Alternative Capital LP is an opportunistic credit manager with a 30-year track record of investing across diverse market segments including corporate, real estate, structured credit, government debt and special situations. With offices in New York and London, the firm's professionals are dedicated to delivering results for clients through a culture of partnership and transparency. Monarch's collaborative approach fosters strong relationships with global investors, companies, operating partners and advisors.