Goldman Sachs Lends $111M Construction Loan for Lux Rental in Miami
By Julia Echikson May 23, 2025 12:41 pm
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Empira Group nabbed a $111.3 million construction loan from Goldman Sachs for a luxury multifamily tower in Miami’s Brickell district, the Swiss developer announced.
The 26-story development, called The Perrin, will house 310 rental units and 380 parking spots at 244 Southwest 9th Street, facing the I-95, nearly two blocks west of the Metrorail line.
Groundbreaking is scheduled for this summer, with delivery anticipated in 2027. Newmark’s Daniel Matz brokered the transaction. The developer purchased the acre site for $21.5 million two years ago, according to property records.
“With significant undersupply of existing properties and strong continued demand in the Brickell submarket, The Perrin represents ideal and much needed housing anchored in convenience and connectivity within Miami’s urban core,” Rafael Aregger, head of Empira Group’s U.S. investments, said in a statement.
It’s the latest construction loan for projects west of the Metrorail line in Brickell. Last month, PMG secured a $413 million construction loan for a rental and condo project. Just last week, Habitat Group obtained $18 million to complete a luxury rental complex. Michael Stern’s Mercedes-Benz-branded condo development remains under construction.
In 2022, Empira Group, which is headquartered in Zug, Switzerland, launched in Miami, buying a half-acre site further south in Brickell for $9 million. In March, it secured a $32 million construction loan for that parcel, which will be turned into an 85-unit rental property.
Julia Echikson can be reached at jechikson@commercialobserver.com.
