S3 Capital Backs Miami Development With $111M Loan
The financing supports a luxury project in the city's Edgewater neighborhood.
Argentina-based HA Emprendimientos has secured a $111 million construction loan for Sense 22, a 328-unit luxury development in Miami. S3 Capital provided the three-year loan.
JLL worked on behalf of the borrower. The company also helped securing a land and predevelopment mortgage for the project in 2025.
Construction started in March, while completion is estimated for 2028. Grycon serves as general contractor, according to Miami-Dade County public records.
The development is one of the tallest buildings proposed under the Live Local Act and it will have 40 percent of its units reserved for affordable housing, according to Florida YIMBY.
Sense 22 will rise at 114 NE 22nd St. in the Edgewater neighborhood, close to downtown Miami. The city’s international airport is 7 miles away.
Upon delivery, the 36-story tower will include a mix of studios, one- and two-bedroom floorplans. Amenities are expected to feature a swimming pool with pool deck, a clubhouse, a fitness center, spa facilities, coworking spaces and 372 parking spots. The building will also have a rooftop terrace with outdoor grilling spaces.
JLL Managing Director Max La Cava and Director Pier Barinci led the Capital Markets’ Debt Advisory team that negotiated on behalf of the borrower.
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Sense 22 is HA Emprendimientos’ most recent project in the neighborhood. The developer is also working on Sense 28, an eight-story, 53-unit community at 329 NE 28th St. The company continues to pursue additional development opportunities in this submarket.
To date, HA Emprendimientos has developed more than 1,000 residential units totaling 1.2 million square feet. The company has 16 years of experience and a portfolio spread across Latin America and the U.S.
Miami’s construction momentum keeps lenders active
Miami’s multifamily inventory expanded some more in the first four months of 2026, according to a recent Yardi Matrix report. Developers completed 2,649 units, representing 0.7 percent of the metro’s existing stock, with most deliveries concentrated in the immediate Miami area.
Multifamily construction activity also continued at a brisk pace. A total of 1,176 units broke ground year-to-date as of April, the metro leading multifamily starts across South Florida. The development pipeline totaled 33,178 units, with 13,269 units expected to come online by the end of the year.
Lenders continue to back Magic City’s multifamily development. Recently, a partnership between 13th Floor Investments and Barings obtained $134 million in construction financing for the final residential component of a master-planned project. Dubbed Crescendo, the 392-unit tower is part of Link at Douglas, a mixed-use, transit-oriented master-planned development in the works since 2019.
