JLL Secures $34M for Miami Development

The Capital Markets team of Brian Gaswirth and Michael DiCosimo arranged the non-recourse financing.

First-Little Havana. Rendering courtesy of JLL

JLL Capital Markets has secured $34 million in financing for the development of First-Little Havana, a 194-unit project in Miami. Director Brian Gaswirth and Associate Michael DiCosimo assisted Premium Development with a non-recourse loan from Man Global Private Markets. This month, another JLL Capital Markets team represented the seller of a 640-unit community in Fort Myers, Fla.

The Miami property will encompass nearly 160,000 square feet of residential space and 7,000 square feet of ground-floor retail. The community will feature 231 parking spaces, a resort-style pool, a yoga studio, a fitness center and a dog park. First-Little Havana is scheduled for completion in 2021.

Located at Seventh Avenue and SW First Street, in the Little Havana submarket, the project is one block from Flagler Street. The development is 6 miles from Miami International Airport and 1 mile from an intersection of interstates 95 and 395. First-Little Havana is also in the proximity of a $600 million affordable and workforce housing development.

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