MIAMI — PMG has received a $413 million construction loan for One Twenty Brickell Residences, a two-tower development in Miami’s Brickell Financial District. Located at 120 S.W. 8th St., the project will consist of an apartment tower and a condominium tower.
The multifamily high-rise will rise 41 stories and offer a mix of studio, one-, two- and three-bedroom apartments. The building will also feature a 48,000-square-foot amenity package, including a pool with a hot tub, fitness center, coworking hub, lounges and a lobby with concierge services. Sentral will operate the community.
The condominium tower will rise 37 stories and offer 266 fully furnished, for-sale residences. Residents will have access to 60,000 square feet of amenities, including an owner’s lounge, infinity-edge pool and an upscale fitness and wellness center that includes treatment rooms, a yoga lawn, outdoor terraces and a high-end fitness studio. The condominiums were 91 percent sold at the time of financing.
PMG plans to break ground on One Twenty Brickell Residences the first week of May. The project is slated for completion in 2028. The design team includes Sieger Suarez Architects and interior designer Cotofana Designs.
Christopher Peck, Brian Gaswirth, Nicco Lupo, Nick Lavin, Jimmy Calvo and Paul Adams of JLL arranged the financing through an Ares Real Estate fund and Monarch Alternative Capital. Andrew Warman, Jon Blank and Paton Marion of PMG’s capital markets team worked on the deal internally.