Dealmaker: Madison Realty Capital Originates $262M Construction Loan for Miami Condos

(Rendering of the neighborhood in Miami, Courtesy LEVY PR-Events (Levy PR))

Madison Realty Capital, New York, originated a $262 million construction loan to developers PMG and E11EVEN Partners for E11EVEN Residences Beyond, a luxury development in Miami.

The project will neighbor the E11EVEN Hotel & Residences Miami development in the District 11 neighborhood of downtown Miami.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said PMG has already successfully presold 83% of residences “as Miami continues to attract major businesses and demand from professionals seeking highly amenitized housing options continues to rise.”

The transaction was brokered by Jones Lang LaSalle, Chicago.