JLL arranges $300m construction loan for office development in Miami

JLL has arranged a $300 million construction loan for the development of 830 Brickell, a 1.03 million-square-foot, 56-story, Class A, marquis tower that includes nearly 615,000 square feet of rentable space in the heart of Brickell, Miami’s financial district and premier office market.

JLL worked on behalf of the developers, a joint venture between OKO Group and Cain International, to secure the four-year construction loan through MSD Partners. 

“Miami is not only a globally important capital of commerce for international companies, it is also becoming increasingly attractive to domestic firms,” said Vladislav Doronin, Chairman and CEO of OKO Group. “The 830 Brickell tower will provide these businesses with access to the core of Miami’s financial district, as well as world-class architecture, design and advanced functionality that this gateway city and its workforce demands.”

“As Miami continues to expand as a global gateway for business, we are proud to be a part of its growth and diversification,” added Jonathan Goldstein, CEO of Cain International. “We hope that the addition of 830 Brickell will provide a solution for businesses to find a home with luxury modern amenities and conveniences in the heart of Miami’sbusiness center.”

830 Brickell is positioned to be the leading office tower in South Florida with world-class architecture and design. Anticipated for delivery in first quarter 2022, 830 Brickell is ideally positioned at 830 SE 1st Avenue in the epicenter of Brickell, directly adjacent to Brickell City Center, a $1.5 billion mixed-use development that anchors the neighborhood and provides an abundance of retail and food & beverage amenities within its 560,000 square feet of curated stores and restaurants.

“We’re excited to see this world-class office tower added to the epicenter of Brickell, which we believe will become the aspirational address for tenants in this gateway market,” Aiese said.

“OKO and Cain bring a new caliber of development to the Miami market with 830 Brickell’s design features and construction quality,” Wadler added.

SEE ALSO : HFF arranges $122.94 construction loan for office development in South Austin

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. 

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