Urban Network Capital Group Lands $30M for Condo-Hotel in Miami’s Brickell

Urban Network Capital Group (UNCG) secured a $30 million construction loan for a condo-hotel in Miami’s Brickell district, property records show.

The financing from Arixa Enhanced Income Fund covers the Visions at Brickell Station development, a 110-unit project at 1120 Southwest Third Avenue, which faces Interstate 95. The Coral Gables-based developer broke ground on the eight-story project in May.

The development is targeting investors, including those participating in the EB-5 program. Condo owners will be allowed to stay in their units for up to 30 days each year, per the South Florida Business Journal. Prices start at $500,000. 

UNCG purchased the 14,250-square-foot site for $2.3 million in 2023, according to property records. That same year, the development secured a $24.5 million loan from Rok Lending. 

Visions at Brickell Station is the latest project west of the Metrorail line in Brickell to land financing. Just last week, North Development obtained $220 million in financing for a condo-hotel tower a block east of Visions at Brickell Station. In April, PMG secured a $413 million construction loan for a condo and rental development two blocks south of North Development’s project. 

Representatives for UNCG and Arixa did not immediately respond to requests for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.