Record-Breaking $600 Million Loan Secured For 80-Story Cipriani Residences Miami Ahead Of Groundbreaking
Mast Capital, a Miami-based real estate developer, is gearing up to begin construction on Cipriani Residences Miami following robust sales activity. The developer has secured a record-breaking construction loan of $600 million from Mexico’s Banco Inbursa and Ascendant Capital Partners, the largest amount ever obtained for a single-tower residential construction in Florida. The considerable loan, consisting of $350 million from Banco Inbursa and $250 million from Ascendant Capital Partners, highlights the strong market confidence in the project, driven by its sought-after design, amenity offering, and prime location in the Brickell neighborhood.