Ytech secured $565 million in construction financing from J.P. Morgan (NYSE: JPM) and Sculptor Real Estate for The Residences at 1428 Brickell, a 70-story residential condominium tower already under active construction and more than 60 percent sold.
J.P. Morgan provided financing as the senior lender, with Sculptor Real Estate as the junior lender for the development. Melissa Rose and Brian Gaswirth of JLL Capital Markets represented the borrower in arranging the financing.
The Residences at 1428 Brickell is a collection of 195 luxury homes ranging from $4.4 million to $10 million. Residences span from 1,800 to 4,000 square feet.
Over 80,000 square feet of resident-only amenities are located at the top of the tower, 850 feet in the sky, offering privacy and panoramic water views. Amenities include three pools with one located at the top of the tower, an expansive 10,000 square foot fitness center, and a two-story wine and fine art lounge.
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