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Miami Condo Developer Secures $104M Financing – Connect CRE

by | Mar 12, 2024 | 0 comments

Ytech has secured $104 million in financing for the Residences at 1428 Brickell, a 189-unit 70-story luxury residential development. The loan was facilitated by Linkvest Capital, who provided $78 million in refinancing of a first mortgage at 1428 Brickell, replacing the original $20 million acquisition loan for the site. $26 million was for a first mortgage secured for adjacent property.

Ytech claims they’ve sold 40% of the units before the existing buildings have been demolished.

The Residences at 1428 Brickell, priced from $2 million to $7 million, will be fully finished with two- to four-bedroom plus den homes ranging from 1,800 to 4,000 square feet. Amenities include a 10,000 square-foot gym, a rooftop pool and atrium, a hot spa, office suites, a private dining room with a kitchen, a juice and wellness bar, an immersive spa, an aquatic therapy area, fully furnished private guest suites, and more. The Residences at 1428 Brickell is slated for completion in 2027.

Industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa. Don’t miss the expert’s take on where the market is headed, and what changes are on the horizon. Register Now!

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