Banco Inbursa

Record-Breaking $600 Million Loan Secured For 80-Story Cipriani Residences Miami Ahead Of Groundbreaking

8:00 am on February 9, 2024 By Oscar Nunez

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.

Merrimac Ventures & Aria Development Group Secure $95M Construction Loan For 600 Miami Worldcenter Condominium In Downtown Miami

8:00 am on February 6, 2024 By Oscar Nunez

A joint venture between South Florida-based developers Merrimac Ventures and Aria Development Group is preparing to break ground on 600 Miami Worldcenter, a 32-story condominium tower set within Downtown Miami’s Miami Worldcenter 27-acre mixed-use development, which will deliver 606 fully furnished units with no restrictions on short-term rentals. The upcoming groundbreaking will be made possible with a $95 million construction loan from Banco Inbursa to fund the sold-out tower’s development at 600 Northeast 1st Avenue. Construction is expected to be completed in 2026.

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