Related Group JV Closes $527M for Miami Condo Tower
St. Regis Residences, Miami, is slated to be completed in 2027.
Related Group and Integra Investments have closed $527 million in financing for St. Regis Residences, Miami. The 50-story condominium property on the Biscayne Bay waterfront in the South Brickell neighborhood is on track for completion in 2027.
TYKO Capital provided the loan, led by Adi Chugh. Robert A.M. Stern Architects (RAMSA) designed the property, its first residential project in South Florida. Rockwell Group designed the interiors.
“Miami continues to be a prime global destination for luxury living, offering an unparalleled blend of vibrant culture, beautiful landscapes, and a thriving economy,” Nick Pérez, president of Related Group’s condominium division, told MHN.
Located at 1809 Brickell Ae., the tower will offer more than 50,000 square feet of indoor and outdoor spaces. Highlights will include a fitness center with a Pilates and yoga studio, a full-size pickleball court, a private marina, a spa and wellness center, and an indoor lap pool. Park-like grounds will surround the building, and landscaping was designed by the Swiss firm Enea Garden Design.
Miami’s robust pipeline
There’s no shortage of new and in-progress luxury product housing in the Miami market. In March, Related Group and BH Group launched sales at Icon Beach Waterfront Residences, a 350-unit luxury condominium project in Hollywood, Fla. Dezer Platinum Realty leads the sales and marketing efforts.
In July, Moss Construction was assigned the general contractor for Villa Miami, a 56-story luxury waterfront condominium tower in Miami’s Edgewater neighborhood scheduled to break ground this summer.The condominium tower will be at 710 NE 29 St. and is designed to rise 650 feet.
The new condominium development marks the first project involving the Major Food Group, Terra Group, and One Thousand Group working together. Douglas Elliman is handling marketing and sales.
In August, Clara Homes’ Clara Bay Harbor 100th, a community outside Miami in Bay Harbor Islands, Fla., landed a $53.6M construction loan. Walker & Dunlop arranged the loan for the luxury apartment property.
The developer will use the proceeds to develop the second phase of the three-part, ultra-luxury multifamily project and begin pre-development in the third and final phase.
