Construction Commences on CADENCE: The Third Tower at Link at Douglas in Miami
Construction is officially underway on CADENCE, the third residential tower rising within the transformative Link at Douglas development, a dynamic mixed-use, transit-oriented community located where Coral Gables meets Coconut Grove. Developed by 13th Floor Investments in partnership with Barings and designed by internationally renowned firm Arquitectonica, the 35-story tower will add 432 market-rate apartments to the neighborhood — 12.5% of which will be designated as workforce housing. The project is slated for completion in 2028.
Strategically positioned on a 7-acre site directly adjacent to the Douglas Road Metrorail Station, CADENCE is part of a broader initiative to turn this high-traffic transit node into a vibrant, walkable urban district. The project is backed by a $125 million construction loan arranged by a lending syndicate led by Santander Bank and TD Bank. With an estimated construction timeline of 33 months, CADENCE is expected to be a key contributor to Miami’s growing inventory of well-located, transit-connected housing.
CADENCE builds on the success of Link at Douglas’ first phase, which was completed in 2023 and includes the 312-unit CORE and 421-unit CASCADE towers. Together with over 30,000 square feet of ground-floor retail, anchored by a flagship Milam’s Market, the development has already started to reshape the area into a mixed-use destination. A fourth and final residential tower is also in the pipeline and will bring an additional 400 units to the site upon completion.
“Securing this construction financing marks a major milestone in bringing the next phase of Link at Douglas to life,” said Daryl Shevin, CFO of 13th Floor Investments. “It reflects strong confidence in our vision and the demand for well-located, high-quality transit-oriented housing in South Florida.”
The Link at Douglas project is the result of a strategic public-private partnership with Miami-Dade County and the Department of Transportation and Public Works. Situated on publicly owned land via a ground lease, the development includes more than $17 million in privately funded infrastructure enhancements. Among them: a fully renovated Metrorail station and a new pedestrian-friendly public plaza that will seamlessly connect with The Underline — Miami’s celebrated linear park and urban trail.
“We’re proud to continue our partnership at Link at Douglas with the development of Cadence,” added Chris Cassella, Managing Director at Barings. “This project exemplifies the kind of forward-thinking, high-impact development we’re committed to, bringing smart density and long-term value to one of Miami’s most strategic locations.”
CADENCE also adds to 13th Floor Investments’ expanding multifamily footprint across South Florida. In addition to delivering over 3,900 units since its inception in 2008, the firm recently completed the 420-unit Savio in Delray Beach and is actively developing The Parks at Hallandale (398 units) and The Parks at Davie (383 units). With over 4,800 units in its development pipeline, 13th Floor continues to be a leading force in shaping the region’s residential future.
FAENA Residences Miami Unveils New Interior Renderings
FAENA Residences Miami has officially revealed interior photos, showcasing a bold new vision for ultra-luxury living along the Miami River. With sales slated to launch later this summer, starting at $1.3 million, the development introduces a refined blend of architectural innovation, cultural immersion, and world-class amenities designed to reimagine the city’s riverfront landscape. Spearheaded by Fortune International Group and KAR Properties, the project is located at 90 SW 3rd Street and signals a new chapter for the Faena brand—this time on the mainland.
Rising as twin 60-story towers, FAENA Residences Miami will deliver 434 condominiums ranging in size from 700 to 3,300 square feet, with future premium offerings expected to reach $10 million. Residents will also have access to 45,000 square feet of integrated cultural and wellness spaces housed within an iconic sky bridge connecting the two towers—offering performance venues, art installations, and immersive wellness experiences that align with Miami’s broader vision of a walkable, vibrant urban core.
The architecture, designed by the late Rafael Viñoly, reflects his sculptural sensibilities and honors his legacy with a striking presence on the city’s evolving skyline. Interior spaces are curated by Faena Design Studio in collaboration with Bryan O’Sullivan Studio, featuring a rich palette of textures, muted reds, and dramatic accents that channel Faena’s theatrical elegance while creating a sanctuary of sophistication for discerning buyers.
As part of the broader Faena District Miami River, the development will integrate high-end residences with curated public spaces, wellness offerings, and art-centric programming—continuing the legacy established in Miami Beach and reinforcing the brand’s role in shaping Miami’s cultural identity. With over $25 billion of nearby real estate investment and 10,000 residential units in the pipeline, FAENA Residences Miami is poised to anchor a transformative new district on the river.
Sales are expected to open by the end of the month, positioning FAENA Residences as one of the most anticipated luxury launches of the year—and a defining force in Miami’s future.
The Perigon Miami Beach Completes First Concrete Pour, Progresses Toward 2027 Debut
A major milestone has been achieved at The Perigon Miami Beach, an ultra-luxury residential tower taking shape at 5333 Collins Avenue in Miami Beach’s coveted Mid-Beach neighborhood. The development recently completed its first hydrostatic concrete slab pour—an essential foundation step in the project’s progress. The operation lasted nine hours and required 520 cubic yards of concrete, 60 tons of reinforcing steel, and 60 truckloads of material.
Spearheaded by Mast Capital in collaboration with Starwood Capital, The Perigon is being built by Moss Construction, with C&C Concrete Pumping, Cemex, and Malcom Drilling contributing to its early-stage construction efforts. Completion is expected in 2027.
The Perigon is the first residential project in Miami Beach designed by OMA, the globally acclaimed firm led by Rem Koolhaas. The tower’s sculptural, diamond-inspired form and curving glass façade stand out as a futuristic addition to the Mid-Beach coastline. Interior design is by Tara Bernerd & Partners, bringing a refined yet contemporary aesthetic to the residences and amenity spaces.
Once completed, The Perigon will house just 73 luxury residences, each offering panoramic views stretching from the Atlantic Ocean to Biscayne Bay and the Miami skyline. The two-acre oceanfront site will also feature nearly 40,000 square feet of world-class amenities that blend indoor sophistication with outdoor tranquility.
Residents of The Perigon can expect a hospitality-driven lifestyle with resort-style amenities, including:
Oceanfront swimming pool with private cabanas
Grand double-height lobby
Spa with treatment rooms and sauna
Fitness center with ocean views
Wine and screening rooms
Children’s playroom and guest suites
Adding to its allure is a private beachfront restaurant and hidden speakeasy created by Michelin-starred chef Shaun Hergatt, who will oversee food and beverage service throughout the property.
Comprehensive services such as 24-hour security, valet, concierge, residential butlers, and in-residence dining will elevate the ownership experience. As construction continues, The Perigon is poised to become one of Miami Beach’s most exclusive and design-forward residential addresses.
The Perigon Miami Beach Reaches Major Sales Milestone and Secures $390M Construction Loan
The Perigon Miami Beach, one of the most highly anticipated ultra-luxury residential developments in South Florida, has reached a significant sales milestone while securing a massive construction loan. Developers Mast Capital and Starwood Capital Group have announced that over 75% of the residences have already been sold, marking strong demand for this premier oceanfront property.
Further solidifying its progress, the development has secured a $390 million construction loan from Eldridge Real Estate Credit, ensuring the project’s continued momentum.
Designed by renowned architecture firm OMA, led by Rem Koolhaas, The Perigon will bring 73 exclusive beachfront condominiums to Miami Beach. With its bold architectural design and curated luxury offerings, the development is set to redefine waterfront living in the city.
Groundbreaking for The Perigon took place in April 2024, and completion is expected in 2027. Once finished, the tower will offer residents an unparalleled lifestyle, with world-class amenities, breathtaking ocean views, and impeccable service.
With its prime location, cutting-edge design, and impressive sales momentum, The Perigon Miami Beach continues to solidify its place as one of the most sought-after addresses in Miami’s luxury real estate market.
Ella Miami Beach Breaks Ground, Marking a New Era for North Beach
Ella Miami Beach has officially commenced construction, according to an announcement on the development’s social media account. This milestone marks a significant step forward for the highly anticipated residential project set to redefine luxury living in North Beach.
The boutique development will feature 103 residential units, offering short-term rental flexibility to cater to modern buyers seeking both investment opportunities and a sophisticated coastal lifestyle. Rising 10 stories, Ella Miami Beach is designed by the renowned architecture firm Arquitectonica, known for their visionary approach to contemporary urban design.
Previously, the developer described Ella’s architectural concept as a seamless blend of classic Art Deco curves with sleek, modern 21st-century lines. This unique aesthetic is expected to pay homage to Miami Beach’s iconic heritage while infusing the neighborhood with a fresh, cutting-edge design.
Located in North Beach, a vibrant and rapidly evolving district, Ella Miami Beach is set to contribute to the area’s resurgence as a sought-after destination. With its groundbreaking now complete, anticipation continues to build as the project progresses toward completion.
Mast Capital and Starwood Capital Group Secure $390 Million Construction Loan for The Perigon Miami Beach
In a monumental achievement for Miami Beach real estate, Mast Capital and Starwood Capital Group have successfully closed a $390 million construction loan for The Perigon Miami Beach. This milestone marks a critical step in the development of this ultra-luxury condominium, set to redefine refined beachfront living.
Construction for The Perigon Miami Beach began in April 2024, with completion anticipated in 2027. This iconic project is a collaboration between Miami-based real estate development group Mast Capital and a controlled affiliate of Starwood Capital Group, a globally renowned private investment firm led by Barry Sternlicht. General contractor Moss Construction is spearheading the project, ensuring the highest standards of craftsmanship and quality.
The Perigon is set to become a landmark of architectural excellence and sophistication, boasting world-class amenities, breathtaking design, and a prestigious beachfront location. With over 75% of residences already sold, it’s clear that this development has captured the market’s attention.
The $390 million construction loan is one of the largest secured in Miami Beach over the past year. Provided by Eldridge Real Estate Credit, a leading investor in real estate credit opportunities, the financing highlights the market confidence in The Perigon’s vision and appeal.
Designed by the internationally acclaimed architectural firm OMA, led by visionary architect Rem Koolhaas, The Perigon will be the first Miami Beach residential project from the firm. The striking diamond-shaped tower will feature 73 two- to four-bedroom residences ranging from 2,100 to 6,700 square feet, all offering sweeping beachfront views. Prices start at just over $10 million.
Renowned interior designer Tara Bernerd has meticulously crafted the residences with the finest finishes, including expansive 10-foot ceilings, 10- to 12-foot-deep wraparound balconies, and direct water views. Residents will also have access to eight private guest suites, adding an exclusive touch to their lifestyle.
The Perigon Miami Beach will offer approximately 40,000 square feet of thoughtfully curated indoor and outdoor amenities. Highlights include:
A private oceanfront restaurant and speakeasy conceptualized by Michelin-starred chef Shaun Hergatt.
An oceanfront swimming pool with cabanas, a serene spa with sauna and treatment rooms, and a private salon.
A fully equipped fitness center with panoramic ocean views, a children’s playroom, and a screening room.
Additional amenities such as a wine room, double-height lobby lounge, and a dedicated lifestyle concierge and residential butler service.
Residents will also enjoy 24-hour security, valet, house car service, pool and beach service, and in-residence dining, ensuring an unmatched level of luxury and convenience.
Located at 5333 Collins Avenue in Miami Beach’s exclusive Mid-Beach neighborhood, The Perigon is nestled along a tranquil stretch of sand between Indian Creek and the Atlantic Ocean. With expansive beachfront acreage and an emphasis on privacy, this development offers a lifestyle experience that is both rare and highly coveted.
The Perigon Miami Beach represents the pinnacle of modern luxury living. With its world-class design, exclusive amenities, and breathtaking location, this development is poised to become a defining icon in Miami Beach real estate.
A Sneak Peek at the New Delano Miami Beach: Redefining Luxury for 2025
Cain International and Ennismore have unveiled an exclusive first look at the highly anticipated renovation of the iconic Delano Miami Beach. Known for its rich Art Deco history and transformative impact on luxury hospitality, the Delano is set to make a grand comeback in late 2025. This partnership between the privately held investment firm and the lifestyle and hospitality company promises to honor the property’s storied heritage while infusing it with a fresh, modern allure.
The Delano Miami Beach has long been celebrated as a beacon of style and sophistication, and its revival is nothing short of extraordinary. The newly renovated property will feature:
171 Guestrooms and Suites: Combining timeless elegance with contemporary design to provide an unparalleled guest experience.
Reimagined Rose Bar: A luxurious reinterpretation of one of Miami’s most iconic spots.
Curated Retail Spaces: Thoughtfully designed to offer unique shopping experiences.
New Beachfront Amenity Deck: Perfect for soaking up the Miami sun in style.
Fourth-Floor Pool: Adding an elevated retreat with stunning views.
Cutting-Edge Wellness Facilities: Designed to provide ultimate relaxation and rejuvenation.
Restored Historic Details: Including terrazzo flooring and the signature hexagonal columns that pay homage to the property’s Art Deco roots.
This renovation not only redefines luxury in Miami Beach but also signifies a key moment in Delano’s global growth. Following the success of Delano Dubai, the Miami Beach reopening strengthens the collaboration between Cain International and Ennismore, setting the stage for future international projects.
The revival of the Delano Miami Beach is a testament to the enduring legacy of the property and its influence on luxury hospitality. As the countdown to the grand reopening continues, excitement is building among enthusiasts of design, history, and exceptional service. The partnership’s vision ensures that the Delano will once again become a must-visit destination, blending Miami’s vibrant culture with world-class luxury.
Loews Corporation Secures $305 Million Refinancing for Miami Beach Resort
Loews Corporation is poised to receive a $305 million refinancing package for its premier oceanfront Miami Beach resort. The financing, which backs the 5-acre, 790-key hotel located at 1601 Collins Avenue, is being originated by Wells Fargo, National Association, and JPMorgan Chase Bank, as reported by Fitch Ratings. The transaction is expected to close on September 10th.
The 10-year, fixed-rate, interest-only loan will serve to refinance the existing $300 million debt and cover approximately $5 million in closing costs. Despite multiple inquiries, a spokesperson for Loews has not provided any comments on the matter.
Loews, which is led by the billionaire Tisch family, has a long-standing history with the property, having acquired it in 1998. The resort encompasses two towers, including the historic St. Moritz building and a 17-story tower. The property boasts approximately 46,000 square feet of meeting space, six food and beverage outlets, retail spaces, a pool, and cabanas. Among its dining options is the renowned Rao’s restaurant, which has become a key attraction for guests.
Fitch Ratings has valued the property at just over $400 million, translating to about $507,000 per key. With a loan-to-value ratio of 74 percent, the new financing will strengthen the resort’s financial foundation while ensuring its continued operation as a luxury destination in Miami Beach.
This refinancing follows a similar move earlier this month by BDT & MSD, a merchant bank created through the merger of Trott’s BDT & Company and MSD Partners, the private investment arm of Dell Technologies founder Michael Dell. The firm secured a $1 billion refinancing for the Boca Raton Resort & Club, a 1,047-key luxury hotel located at 501 East Camino Real in Boca Raton. Citi Real Estate Funding provided the two-year, floating-rate interest-only loan for that transaction.
The Miami Beach resort refinancing marks yet another significant investment in South Florida’s luxury hotel market, reflecting the region’s robust real estate and hospitality sectors. As Loews continues to enhance its premier properties, the future looks bright for this iconic oceanfront destination.
The Fifth Miami Beach Sets a New Standard in Luxury Commercial Real Estate
We are thrilled to share some groundbreaking news from the world of real estate development. Sumaida + Khurana and Bizzi + Bilgili, two of the most esteemed real estate development firms on the global stage, have recently announced a significant financial milestone. They have successfully secured $47.25 million in construction financing from Cain International for an exciting new project: The Fifth Miami Beach.
This state-of-the-art Class A+ office building, located at 950 5th Street, is making history as the first commercial edifice to be erected in Miami’s South of Fifth neighborhood in two decades. The design mastermind behind this architectural marvel is none other than Alberto Campo Baeza, a name synonymous with innovation and excellence in architecture. Baeza, recently crowned with Spain’s National Prize for Architecture, has chosen The Fifth Miami Beach as his maiden commercial office project in the United States.
The Fifth Miami Beach isn’t just another addition to the skyline. It’s a redefinition of the modern office experience, blending striking design with a strong emphasis on health and wellness. The project, which broke ground recently, is slated for completion in 2025. Impressively, it has already pre-leased nearly 20% of its space.
Amit Khurana, Founding Partner of Sumaida + Khurana, describes The Fifth Miami Beach as a blend of “timeless design, quality of craftsmanship, and curated amenities,” all aimed at setting a new benchmark in commercial development. Meanwhile, Alessandro Pallaoro of Bizzi & Partners highlights Miami’s growing status as a hub for influential companies and the significance of this project in reinforcing the city’s position in the business world.
Sumaida + Khurana and Bizzi+Bilgili are powerhouses in their own right. The former is steered by Saif Sumaida and Amit Khurana, while the latter represents a joint venture between Bizzi & Partners and Bilgili’s private equity real estate arm, BLG Capital.
Global commercial real estate titan, Cushman & Wakefield, is at the forefront of office leasing efforts for this project, with Avenue Real Estate Partners handling the retail leasing. The building’s strategic location at the entrance to Miami Beach, at the corner of Michigan and Fifth Street, positions it perfectly within the rapidly evolving South of Fifth neighborhood, a hotspot for upscale dining, hotels, and residences.
The design team for The Fifth Miami Beach reads like a who’s who of the architectural world. Alberto Campo Baeza, Gabellini Sheppard Associates, Cube 3, and Miami-based Urban Robot Associates come together to create a building that is a visual feast. The building’s design is a stunning jewel box shape, characterized by a façade of white marble, transparent glass, and architectural concrete. It boasts ceiling heights of 14 feet and incorporates biophilic design elements like landscaped outdoor terraces and a triple-height atrium.
The crowning glory is the rooftop space, offering panoramic views of the ocean and Miami Beach. The building is not just about aesthetics; it is also designed to meet LEED certification standards, emphasizing sustainability.
