Miami, Florida, October 2, 2025
News Summary
One Brickell Riverfront, a two-tower condominium project on the Miami River, has secured roughly $513 million in construction financing led by a Washington, D.C.–based private equity firm. The package combines about $370 million in senior loans and a $143 million mezzanine loan, enabling continued vertical construction and interior work. The development on a 1.6-acre L-shaped site will deliver a 46-story branded tower with 422 units and a 44-story Lofty Brickell tower with 362 units, plus ground-floor retail. Sales are underway and both towers are slated for completion in August.
Carlyle Leads $513M Construction Financing for One Brickell Riverfront Condominium Project in Miami
Key financing secured as two-tower project nears finish; both towers expected open in August 2027
What happened: A major $513 million financing package has been arranged to complete the One Brickell Riverfront condominium project on Miami’s riverfront. The package combines about $370 million in senior debt with a $143 million mezzanine loan, securing funds needed to finish construction on two towers that share a podium.
Who provided the money: The senior financing portion totals roughly $370 million. About $310 million of that came from a Washington, D.C.–based private equity firm, while affiliates of another real estate lender supplied roughly $60 million in senior capital. A separate mezzanine loan of $143 million was provided by 3650 Capital, bringing the total development financing to about $513 million.
Why it matters: This deal ranks among the largest construction loans in South Florida this year and clears a major funding hurdle for a high-profile site that faces the Miami River and sits west of a major mixed-use complex in the Brickell neighborhood. The financing helps move the project toward its scheduled openings and supports local construction activity amid rising building costs and higher interest rates.
Project snapshot and timeline
The development, called One Brickell Riverfront, occupies an L-shaped, 1.6-acre parcel at 99 Southwest Seventh Street in Miami. The site was purchased in 2022 by Newgard Group for $50.5 million. Construction is reported to be more than halfway complete, and both towers are expected to be finished in August 2027.
The complex includes two residential towers that share a podium: a taller, 46-story tower branded with a well-known hospitality name that will contain 422 condominiums, and a second, 44-story building known as Lofty Brickell with 362 units. Sales for the Standard-branded tower began in November 2024. Units in the Lofty building are being sold furnished and without rental restrictions.
The ground floor will host Avra Estiatorio, a high-end Greek restaurant that originated in Manhattan, adding a notable dining option to the development.
How financing evolved
Newgard Group originally secured a construction loan in 2022 for earlier phases of the development and later sold part of the site to another developer. As construction costs and interest rates rose, Newgard brought on Two Roads Development as a partner to help move the project forward. The fresh $513 million financing combines senior and mezzanine layers to cover remaining costs as work progresses toward the 2027 completion target.
A representative for the lead senior lender declined to comment on the financing arrangement, and project representatives did not immediately respond to requests for additional details.
Broader market context
The One Brickell Riverfront financing arrives as other large development and capital moves are reshaping real estate finance in the region. Separately, a Miami apartment project secured a large combined C-PACE and mortgage construction package to fund energy-efficiency and resilience features, and a global investment firm closed its latest U.S. opportunistic real estate fund with multi‑billion-dollar commitments focused on residential and industrial sectors. Those transactions reflect a mix of traditional lending, mezzanine debt, and alternative financing tools being used to bridge rising construction costs and tighter bank lending conditions.
What comes next
With the capital stack in place, construction teams are expected to continue work on structural finishes and interior build-outs. The project’s timeline targets both towers opening in August 2027, which will add nearly 800 new condominium units to the Brickell market and introduce new retail and dining amenities on the riverfront site.
Frequently Asked Questions
Q1: What is the total financing amount for One Brickell Riverfront?
A1: The combined financing totals approximately $513 million, made up of about $370 million in senior debt and $143 million in mezzanine financing.
Q2: Who are the main lenders in the financing package?
A2: The senior debt includes roughly $310 million from a major private equity firm and about $60 million from affiliates of another real estate lender. The $143 million mezzanine loan was provided by 3650 Capital.
Q3: Where is the project located and what does it include?
A3: The project is at 99 Southwest Seventh Street, Miami, facing the Miami River and west of the Brickell City Centre area. It includes two towers sharing a podium: a 46-story tower with 422 condos and a 44-story tower with 362 units.
Q4: When are the towers expected to be completed?
A4: Both towers are scheduled for completion in August 2027.
Q5: Will there be retail or restaurant space on site?
A5: Yes. A high-end Greek restaurant, Avra Estiatorio, is planned to open on the ground floor of the development.
Q6: How far along is construction?
A6: Construction is reported to be more than halfway complete at the time of this report.
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Key features at a glance
| Feature | Detail |
|---|---|
| Project name | One Brickell Riverfront |
| Address | 99 Southwest Seventh Street, Miami (faces Miami River) |
| Total financing | Approximately $513 million |
| Senior debt | About $370 million (approx. $310M + $60M) |
| Mezzanine | $143 million (3650 Capital) |
| Tower A | 46 stories, 422 condos, branded with a hospitality name |
| Tower B (Lofty Brickell) | 44 stories, 362 units |
| Construction status | More than halfway complete |
| Expected completion | August 2027 |
| Ground-floor tenant | Avra Estiatorio (high-end Greek restaurant) |
Deeper Dive: News & Info About This Topic
Additional Resources
- Commercial Observer: One Brickell Riverfront financing
- Wikipedia: Brickell, Miami
- Multi-Housing News: Record C-PACE financing for Miami condos
- Google Search: C-PACE Miami condos
- CommercialSearch: Carlyle raises $9B opportunistic real estate fund
- Google Scholar: Opportunistic real estate fund Carlyle 2025
- Funds Society: Carlyle and Becon IM strategic distribution alliance
- Encyclopedia Britannica: private equity distribution
- Cointelegraph via TradingView: US real estate asset manager launches $100M tokenized fund
- Google News: tokenized real estate fund institutional backing
Author: Construction CA News
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