Skip To Content
  • Home
  • Brickell
  • Mast Capital Secures Record $600 Million Financing for Cipriani Residences

Mast Capital Secures Record $600 Million Financing for Cipriani Residences

Photo Credit: Mast Capital

Miami stands out amidst a national real estate slowdown, witnessing a notable surge in financing activities, exemplified by Mast Capital, a prominent real estate development and investment firm in Florida. They have recently achieved a significant feat by securing a groundbreaking $600 million construction loan for their luxurious condominium tower, Cipriani Residences, in Miami’s vibrant Brickell neighborhood.

This accomplishment marks the largest single-tower loan ever obtained by a developer in Florida and is the outcome of collaborative efforts between lenders Banco Inbursa and Ascendant Capital Partners. The substantial funding injection will propel the construction of an 80-story residential tower comprising 397 residences, set to commence construction shortly and anticipated to be completed by 2028. The successful procurement of such a substantial construction loan underscores the project’s exceptional pre-sale performance, distinctive architectural design, extensive lifestyle amenities, and prime location within Brickell.

Photo Credit: Mast Capital

The financing arrangement for Cipriani Residences Miami is part of a series of real estate construction loans in South Florida, totaling nearly $2 billion over the past two months. Other noteworthy projects include The Ritz-Carlton Residences in Pompano Beach, Casa Bella Residences in Downtown Miami, Vita at Grove Isle in Coconut Grove, FATVillage in Fort Lauderdale, Sundy Village in Delray Beach, and the 600 Miami Worldcenter condominium in Downtown Miami, showcasing the thriving real estate investment landscape of the region.

Mast Capital’s strategic acquisition of the 2.8-acre site at 1420 S Miami Ave. in Brickell for $103 million in December 2021 secured one of the last available parcels of raw land suitable for large-scale high-rise development in the area. With residences starting at $1.7 million, the luxury condominium tower, designed by Arquitectonica and interior design firm 1508 London, promises to redefine upscale living in Brickell.

Cipriani Residences Miami is set to become a landmark development, affirming Mast Capital’s commitment to excellence in real estate development and further solidifying Miami’s status as a premier destination for global investors and discerning homeowners alike.

Photo Credit: Mast Capital

Trackback from your site.

Leave a Reply

*
*