Introduction: PMG Secures Construction Financing
April 28, 2025 – National developer PMG has successfully secured a $413 million construction financing package for One Twenty Brickell Residences, a dual-tower, luxury mixed-use development located in the heart of Miami’s vibrant Brickell district. The loan, provided by Ares Real Estate and Monarch Alternative Capital, will fund various components of the property, including the condominium, multifamily units, commercial space, and parking.
Financing Deal and Project Milestone
The financing deal marks a significant milestone in the project’s journey, and it comes after a previous collaboration between Ares and Monarch on a financing deal for another PMG property in Wynwood. PMG’s Capital Markets team, including Andrew Warman, Jon Blank, and Paton Marion, worked alongside Jones Lang LaSalle (JLL) to secure the necessary funding. One Twenty Brickell Residences officially broke ground in the first week of May, with plans for completion set for 2028. Andrew Warman, Managing Director of Capital Markets at PMG, highlighted the project’s achievement, especially given the challenging market conditions for multifamily developments. He noted, “Obtaining this financing stands as an incredible feat at a time when current market conditions are making development of multifamily towers challenging.”
Design and Features of One Twenty Brickell Residences
The design of One Twenty Brickell Residences comes from internationally renowned Sieger Suarez Architects, with interiors by Cotofana Designs. The development consists of two towers. The first tower, a 37-story structure, will house 266 fully finished and furnished condominium residences, each offering unique deeded office suites for residents. The second tower, a 41-story building, will include 537 multifamily residential units operated by the Sentral Management Platform, offering studio-to-three-bedroom units with high-end finishes.
Each residence is equipped with fully integrated kitchens featuring custom countertops, a curated high-end appliance package, imported cabinetry by Italkraft, and WaterWorks bathroom fixtures. PMG’s commitment to luxury extends to the integration of smart home technology, allowing residents to seamlessly personalize their living experience.
Sales Success and Developer Insights
Dan Kaplan, Managing Partner at PMG, expressed gratitude for the support from Ares and Monarch, emphasizing the project’s swift sales success. “At over 91 percent sold, its swift sales success is a testament to the tremendous team at PMG Residential’s hard work and keen understanding of the Brickell market,” Kaplan said. “We’re looking forward to being one step closer to delivering One Twenty Brickell Residences and its revolutionary concept of luxury living.”