Mast Capital Secures Record $600 Million Loan for Cipriani Residences Miami
Miami's real estate landscape is set to be transformed with the announcement that Mast Capital has secured a staggering construction loan of $600 million for the iconic Cipriani Residences Miami project. This historic achievement not only marks a significant milestone in Florida's real estate history but also signals a new era of luxury living in the heart of Miami's Brickell neighborhood.
The Financing Breakdown
Mast Capital, a prominent Miami-based developer, has successfully secured this monumental construction loan from Banco Inbursa, based in Mexico, and Ascendant Capital Partners, contributing $350 million and $250 million to the project. This collaboration has not only highlighted the confidence that these financial institutions have in the project but also underscores the rising demand for ultra-luxury residences in Miami's thriving Brickell Financial District.
A Transformative Development in Brickell
Situated on the southern edge of Brickell's bustling business district, Cipriani Residences Miami promises to redefine luxury living in this vibrant neighborhood. This groundbreaking project is the first-ever ground-up residence for the renowned Cipriani brand in the Americas. The highlight of this development is an 80-story luxury condominium tower boasting 397 residences, each offering breathtaking views of Biscayne Bay, the Brickell skyline, and Coconut Grove.
One of the project's unique advantages is its strategic location, providing easy access to all Brickell destinations while benefiting from lower traffic density due to its proximity to the less congested southern areas of Brickell.
Developer's Vision
Camilo Miguel, CEO of Mast Capital, expressed his excitement about the project, stating, "The unprecedented financing we have secured for this transformative development anchored in Brickell is a testament to the demand for an ultra-luxury condominium product in this neighborhood. We have assembled the highest caliber of architecture and design to execute this project and further solidify the position of Miami's Brickell Financial District as a business and residential community."
With the ongoing influx of new residents to Miami, driven by its cosmopolitan lifestyle, warm climate, and favorable tax environment, the demand for high-end residential properties like Cipriani Residences Miami is expected to continue its rapid growth.
Mast Capital's Acquisition and Design
Mast Capital acquired the 2.8-acre site at 1420 S Miami Ave. for $103 million in December 2021, securing one of the last raw land parcels in Brickell capable of supporting such a large-scale, high-rise development. The condominium tower boasts a signature design by Bernardo Fort-Brescia of the renowned architecture firm Arquitectonica, as well as interiors crafted by the world-famous design firm 1508 London.
Luxurious Living at Cipriani Residences Miami
Starting at $1.7 million, Cipriani Residences Miami offers one- to four-bedroom residences ranging from 1,123 to 3,495 square feet, along with penthouses featuring private pools, with completion set for 2028. The Canaletto Collection, comprising six penthouses starting at $17 million, provides an even more exclusive experience, with private access to the tower's speakeasy, dining spaces, and global concierge services.
Residents will have access to a wide range of amenities, including around-the-clock dining services by Cipriani, multiple swimming pools, a golf simulator, a pickleball court, a screening room, a library, a salon, a private dog park, a children's playroom, and various à la carte services for a truly luxurious lifestyle.
Cipriani Residences Miami is poised to elevate luxury living in Brickell to unprecedented heights, and its development is sure to be closely watched by the real estate industry and luxury lifestyle enthusiasts worldwide. As the project takes shape and the Miami skyline continues to evolve, it's evident that this prestigious development will play a pivotal role in shaping the city's future. Stay tuned for updates on this monumental project as it progresses towards completion in 2028.
