Developer Secures $600 Million Construction Loan for Cipriani Residences

Developer Mast Capital has secured $600 million in financing for the construction of Cipriani Residences. The loan was from Mexico-based Banco Inbursa. The 80-story tower is one of three mixed-use high rises coming to the Brickell Financial District. The development is located between Southwest 14th Street and Southwest 14th Terrace with Southwest 1st Avenue on the west and South Miami Avenue on the east. The buildings will be built on roughly 2.74 acres and will feature three soaring adjoined superstructures of 50, 60, and 80 stories around 2.72 million square feet of space. Cipriani Residences Miami, the first 80-story building will feature 405 luxury condominiums and 425 apartments in each of the rental towers. Phased foundation permits have also been filed for the two smaller rental towers, which are expected to rise approximately 604 feet and 693 feet at 50 and 60 stories beside the Cipriani Tower. Construction on the project has started and all three towers are to be complete by 2028.

View 1420 South Miami Avenue >>