Mercedes-Benz Miami Project’s $1.1B Financing Package Speeds Closer to Completion
JP Morgan Chase is leading the financing, with Nuveen Green Capital providing $250 million in C–PACE debt
By Cathy Cunningham September 30, 2026 4:13 pm
reprints
Ladies and gents, start your engines.
Mercedes-Benz Places–Miami’s construction financing is officially off to the races, sources confirmed to Commercial Observer.
J.P. Morgan is leading the $1.11 billion financing package for the luxury-branded, mixed-use tower in Miami’s Brickell neighborhood and providing a $860 million construction loan. Nuveen Green Capital is also in the process of providing roughly $250 million in Commercial Property Assessed Clean Energy (C-PACE) financing for the project.
While term sheets have now been signed, the deal has not yet closed. It’s expected to close by year end, sources said.
Walker & Dunlop’s Aaron Appel, Dustin Stolly, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Sean Reimer and Sean Bastian are negotiating the financing.
The Promote first reported news of the mammoth loan being in the works.
JDS Development was the developer behind the Miami project, but Fontainebleau Development, led by Jeffrey Soffer, stepped in as a partner in the deal earlier this year to move the development forward after it became embroiled in a foreclosure suit.
When completed, the 67-story Mercedes-Benz Places-Miami, at 140 SW 11th Street, will include 791 luxury condos, 130,000 square feet of amenities, including a cocktail bar and two restaurants and wellness facilities, 200,000 square feet of office space, a 174-key hotel, a parking garage and a park.
Sources said that J.P. Morgan’s loan is collateralized by the entire Mercedes-Benz project, while Nuveen’s will be collateralized by its commercial component only.
The German car manufacturer first lent its name to the Brickell tower in 2024, marking Mercedes-Benz’s first branded real estate project in the U.S. It followed the proliferation of towers by competitors Porsche, Aston Martin and Bentley.
Fontainebleau Development, J.P. Morgan and Walker & Dunlop didn’t immediately respond to requests for comment. Nuveen declined to comment.
Cathy Cunningham can be reached at ccunningham@commercialobserver.com.
