JLL secures over $565M in construction financing for ultra-luxury condominium tower in Miami

Rhea-AI Summary

JLL (JLL) arranged $565.35 million in construction financing for The Residences at 1428 Brickell, a 70-story, 195-unit ultra-luxury condominium in Miami's Brickell Financial District, on Nov 3, 2025.

The 4.25-year floating-rate loan was placed with JP Morgan and Sculptor for borrower Y-Tech. The project is 57% presold as of Oct 2025, broke ground Nov 2024, completed Brickell's largest mat foundation pour in Sep 2025, and targets delivery in Q4 2028. The tower will feature nearly 20,000 sq ft of photovoltaic-integrated glass and 80,000 sq ft of resident-only amenities.

Positive

• $565.35M construction loan secured
• 57% presold as of Oct 2025
• 20,000 sq ft photovoltaic-integrated glass
• 80,000 sq ft resident amenities

Negative

• Loan is floating-rate with interest-rate exposure
• Loan term 4.25 years creates refinancing risk before Q4 2028 delivery
• 43% of units remain unsold as of Oct 2025

Insights

Capital Markets Analyst

Large construction loan closes, de-risking financing and enabling project execution for a high-end Miami condo.

The arrangement of a $565.35 million 4.25-year floating-rate construction loan led by JPMorgan and Sculptor provides explicit near-term liquidity to advance construction and cover major near-term costs.

Key dependencies include continued presale momentum (currently 57% presold as of October 2025), interest-rate movement on a floating facility, and timely construction milestones such as the recent mat pour and the planned Q4 2028 delivery. Monitor presale pace, lift-out schedules, and any lender LIBOR/benchmark adjustments over the loan tenor.

Real Estate Development Strategist

Financing and design pedigree materially improve project viability; sustainability and amenities support premium positioning.

The financing closure paired with a world-class design team and unique solar-integrated façade strengthens the project's market positioning for ultra-luxury buyers and supports its sales strategy for large units (1,800–8,900 sq ft) across 195 units.

Risks to track include absorption hurdles if presales slow, construction schedule slippage between the November 2024 groundbreaking and the Q4 2028 delivery, and operating cost/lease-up assumptions tied to the building’s novel solar systems; watch quarterly presale updates and construction milestone notices over the next 12–36 months.

Construction loan arranged for Y-Tech's The Residences at 1428 Brickell in Miami's Financial District

MIAMI, Nov. 3, 2025 /PRNewswire/ -- JLL's Capital Markets group announced today that it has secured $565.35 million in construction financing for The Residences at 1428 Brickell, an ultra-luxury 70-story condominium tower in Miami's prestigious Brickell Financial District.

JLL represented the borrower, Y-Tech, in arranging the 4.25-year, floating-rate loan through JP Morgan and Sculptor.

The Residences at 1428 Brickell will feature 195 exclusive homes in two- to four-bedroom plus den floor plans, providing 1,800 to 8,900 square feet of space. Designed by world-renowned Antonio Citterio of ACPV Architects and Arquitectonica, the tower will be the first-ever high-rise residential building in the world to be partially powered by the sun, featuring a solar backbone on the west façade with over 500 photovoltaic-integrated glass panels comprising nearly 20,000 square feet of energy-producing glass. The Residences at 1428 Brickell have been thoughtfully sequenced to provide estate-inspired living with elevated experiences, privacy and lifestyle-enhancing features.

The development will offer an unprecedented 80,000 square feet of amenities dedicated exclusively to residents, including resort-level pools, a two-story Owners Club, wellness facilities and a rooftop observatory.

As of October 2025, The Residences at 1428 is 57% presold, demonstrating strong market demand for ultra-luxury product in Brickell. Unit interiors will include specialized Gaggenau appliance packages, Arclinea and Vaselli cabinetry and natural stone and marble throughout.

The development team includes ACPV Architects and Arquitectonica as architects, Coastal Construction as general contractor and Cervera Real Estate handling sales. The project broke ground in November 2024, completed the largest mat foundation pour ever executed in Brickell in September 2025, and is slated for project delivery in Q4 2028.

JLL Capital Market's Debt Advisory team representing the borrower was led by Senior Managing Directors Melissa Rose, Brian Gaswirth and Christopher Peck, Director Paul Adams and Associate Nicole Diaz.

"We're excited to partner with Y-Tech on this groundbreaking project that represents the future of luxury residential development in Miami," said Rose. "The strong presales performance, world-class design team and innovative sustainability features position 1428 Brickell as a landmark addition to Miami's skyline."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL's newsroom. 

About Y-Tech
Y-Tech is a technology-driven real estate investment and development company that specializes in acquiring, repositioning, and developing commercial properties across major U.S. markets. The firm leverages data analytics, innovative design, and strategic partnerships to create value-driven real estate solutions that meet the evolving needs of modern tenants and communities.

About JLL 
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Contact: Gréta Kieras, Senior Associate, Public Relations
Phone: +1 949 930 8498  
Email: greta.kieras@jll.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/jll-secures-over-565m-in-construction-financing-for-ultra-luxury-condominium-tower-in-miami-302603208.html

SOURCE JLL

FAQ

How much construction financing did JLL secure for The Residences at 1428 Brickell (JLL) on Nov 3, 2025?

JLL arranged a $565.35 million construction loan for The Residences at 1428 Brickell.

Who provided the construction loan for 1428 Brickell and what is the loan term?

The 4.25-year floating-rate loan was placed with JP Morgan and Sculptor.

What is the sales status of The Residences at 1428 Brickell (JLL) as of Oct 2025?

The project is 57% presold as of Oct 2025.

When is The Residences at 1428 Brickell scheduled for delivery and what is the unit count?

The 70-story tower has 195 units and is slated for delivery in Q4 2028.

What sustainability and amenity features does 1428 Brickell include?

The tower includes nearly 20,000 sq ft of photovoltaic-integrated glass and 80,000 sq ft of resident-only amenities.

What are the investor risks tied to the JLL-arranged financing for 1428 Brickell?

Key risks include floating-rate interest exposure, refinancing risk before loan maturity, and 43% of units still unsold as of Oct 2025.