S3 Capital Lends $111M for Miami Resi Tower
By Andrew Coen July 8, 2026 11:53 am
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Argentine developer HA Emprendimientos has sealed $111 million of construction financing to build a luxury multifamily tower in Miami, Commercial Observer has learned.
S3 Capital provided the loan for the 36-story Sense 22 project in Miami’s Edgewater neighborhood. Gonzalo Espinosa, chief financial officer at HA Emprendimientos, acquired the development site for Sense 22 at 114-138 NE 22nd Street for $8 million in December 2023 from Cain.
JLL’s Max La Cava negotiated the debt.
“We like the Edgewater market because of its premier location,” Steven Jemal, managing director of Origination at S3 Capital, said in a statement. “It’s close enough to Biscayne Boulevard, Wynwood and the Design District to stay connected to Miami’s core, without asking residents to live in the middle of downtown.”
Jemal added that “recent absorption trends” for the multifamily sector in Miami and tax advantages under Florida’s Live Local Act “made Sense 22 a compelling opportunity” for S3.
Located about two miles north of Downtown Miami, Sense 22 will feature 328 apartments ranging from studios to three-bedroom units, along with 372 parking spaces. Community amenities will include a swimming pool, a rooftop terrace with outdoor grilling areas, a spa, a fitness center and coworking spaces.
“We identified Edgewater as a neighborhood with tremendous growth potential and proven financial performance,” Ignacio Aldazabal, CEO of HA Emprendimientos, said in a statement.
The project spans approximately 262,000 net rentable square feet, with an average unit size of 799 square feet.
South Florida-based Grycon is serving as general contractor for the Sense 22 development, which is slated for completion in late 2028
“Seeing the project take shape is a fulfilment of the developers’ vision for the future of Miami’s quickly evolving skyline,” La Cava, managing director at JLL, said in a statement. “Sense 22 is setting a new standard for urban living and cementing Edgewater as one of Miami’s top residential neighborhoods.”
Andrew Coen can be reached at acoen@commercialobserver.com.
