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JDS Development Group Secures $86M for 64-Story Mixed-Use in Miami
JDS Development Group has secured $86 million in acquisition and construction financing from Maxim Capital Group for 1 Southside Park, a full city-block development in the Brickell neighborhood of Miami, FL.
The 64-story, mixed-use project will deliver 1,175 residential rental units, 190,000 square feet of office space, a 200-key Treehouse Hotel, 10,000 square feet of retail space and 1,400 parking spaces.
The financing was arranged by Walker & Dunlop’s Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Reimer, Mo Beler and Sean Bastian. The team replaced the existing land acquisition loan with a bridge construction loan at a lower rate and with higher proceeds on behalf of JDS.
The SHoP-designed tower is envisioned as a series of stacked and shifted volumes that purposefully break down its scale. Each level is carefully designed to create both form and function for the multi-use structure: residential, hotel, microunits, office and wellness.
- ◦Development
- ◦Financing
