JLL’s Capital Markets group announced that it has secured the $262 million construction financing for E11EVEN Residences Beyond, a 65-story condominium development in Miami, Florida. The project will include over 550 luxury condominium units, 13,861 square feet of retail and 204 parking spaces.
JLL worked on behalf of the borrower, Property Markets Group, to secure the 3.5-year, floating-rate loan through Madison Realty Capital.
With an anticipated completion of 2026, E11EVEN Residences Beyond will feature private resort-style amenities, such as an expansive gym, spa, rooftop lounge, pool, private rooftop helipad and a 150-foot bridge connecting the project with E11EVEN Hotel and Residences.
Located in the heart of Downtown Miami’s District 11 at 50-90 N.E. 11th St., the project benefits from direct access to I-395 and I-95, providing ease of travel to Miami Beach, Wynwood, Brickell, Miami International Airport, the Port of Miami and a multitude of other prime local destinations. The community will provide residents an urban, walkable lifestyle with instant access to Adrienne Arsht Center for the Performing Arts, the Perez Art Museum and the Frost Museum of Science, as well as the Miami Worldcenter, a 27-acre, mixed-use development with 300,000 square feet of newly built retail, dining, shopping and entertainment venues.
JLL’s Capital Markets Debt Advisory Team was led by Senior Managing Directors Christopher Peck and Chris Drew, Managing Director Brian Gaswirth, Director Alex Staikos and Associate Jimmy Calvo.
“This is an exciting time in District 11, and despite market turmoil, lenders were eager to work with a best-in-class developer like PMG on a project that will stand out in an exhilarating new neighborhood that appeals to residents and visitors alike,” said Peck. “The transaction is further evidence that attractive financing is available for sophisticated projects in the right location, and we were thrilled to work with both parties to close this loan.”
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.