Focus JV Lines Up $250M for Miami Development
The community will comprise more than 500 units.
A joint venture between Focus and Group Fox has obtained a $250 million construction note for Brickell Starlite, a 517-unit luxury project in downtown Miami. Affinius Capital issued the debt in a deal arranged by Cushman & Wakefield.
The Gensler-designed development secured county approval earlier this year. Completion is scheduled for 2028, according to Florida YIMBY.
The project will take shape at 128 SW 7th St., the site of a former hospitality property. The developers paid $28 million for the hotel in 2022 but have since demolished it to make way for the multifamily development, the same source shows.
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The site is within walking distance of Brickell City Centre, a 5 million-square-foot, mixed-use property that includes office, retail, residential and hospitality space. Miami International Airport will be some 7 miles away.
Brickell Starlite will rise 39 stories, encompassing studio and one- to three-bedroom layouts. Five percent of the units will be designated as workforce housing. Amenities are set to include two swimming pools along with decks and cabanas, as well as coworking spaces, a gym and 8,000 square feet of retail space, among other features.
Cushman & Wakefield Executive Director Chris Lentz, alongside Executive Managing Director Chris Moyer and Vice Chairman Jeff Altenau, as well as Managing Directors Susan Tjarksen and Marc Royer, represented Focus and Group Fox in the debt negotiations.
Developers continue working on Miami projects
Greater Miami’s pipeline comprised more than 33,000 units as of December, according to Yardi Matrix data. Multifamily construction retains momentum across the market with developers breaking ground on about 12,000 units in 2025, a figure nearly unchanged year-over-year.
However, certain submarkets lacked luxury rental development. Brickell, for instance, has struggled to maintain a solid delivery pipeline when it comes to such communities, according to prepared remarks by Affinius Capital Co-Head of Debt Originations Eric Cohen.
In Spring, PMG broke ground on such a project. Dubbed One Twenty Brickell Residences, the development comprises two residential towers totaling 803 residences. Of these, just 537 will be rentals, while the remaining 277 units are set to be sold as part of a condominium property.
