Siguler Guff Unveils $25.25 Million Mezzanine Loan for Luxury Condo in Wynwood
In an exciting development for Miami's Wynwood neighborhood, Siguler Guff & Company has officially provided a mezzanine construction loan amounting to $25.25 million for the planned luxury condominium project known as Twenty Sixth 2nd Residences. This ambitious undertaking will feature 233 residential units, alongside a substantial retail space covering approximately 27,000 square feet. The design also includes a dedicated co-working floor with 173 office suites, which will be owned by the residential unit owners, fostering a hybrid lifestyle that marries living and working environments in a synergistic way.
The project's borrower, Property Markets Group (PMG), is well-regarded in the industry for its expertise in luxury real estate development across Miami. Notably, this financing operates in tandem with an additional $100.75 million senior construction loan from Madison Realty Capital, ensuring robust financial backing for the project.
Jose Mayoral, Siguler Guff's Vice President for Real Estate Investments, expressed his satisfaction with the collaboration, stating, "We are pleased to partner with Madison Realty Capital on this financing and support Property Markets Group in the development of Twenty Sixth 2nd Residences. Wynwood is an exceptional neighborhood that offers a dynamic mix of cultural, dining, and nightlife experiences. We are proud to play a role in delivering a project that aims to enhance its appeal for future residents."
The development highlights Wynwood's remarkable transformation into one of Miami's most desirable locations. Josh Zegen, Co-Founder and Managing Principal of Madison Realty Capital, noted that the Twenty Sixth 2nd Residences is strategically positioned to further advance this momentum. He mentioned, "This thoughtfully conceived residential project, replete with amenities, will add to the charm and allure of a neighborhood that continues to attract residents and visitors alike."
Potential residents of Twenty Sixth 2nd Residences can look forward to an array of impressive amenities. The development will feature a rooftop pool accompanied by cabanas, an outdoor bar and lounge area, and a state-of-the-art fitness studio. Additionally, a wellness circuit offering steam rooms, sauna facilities, and cold plunge areas marks the commitment to health and well-being. A meditation house and curated art installations are also part of the unique offerings, aiming to create an environment that encourages relaxation and a sense of community.
Each residential unit within the project will be delivered fully furnished, equipped with cutting-edge smart building technology that promises modern convenience and sustainability. With these extensive offerings, the development aims to set a new standard for luxury living in urban settings.
Siguler Guff itself is a multi-strategy private markets investment firm managing approximately $18.4 billion in assets across various sectors. Founded in 1991 and becoming an independent entity in 1995, the firm has developed a commendable reputation in the investment landscape, particularly in private markets. Its focus is on opportunistic investments and providing substantial returns for its clients, including over 800 institutional partners and more than 1,000 family offices. The firm’s experience encompasses a wide range of investment strategies, including small buyouts, emerging markets, opportunistic credit, real estate, and small business credit. As it sets its sights on the Wynwood development, Siguler Guff's involvement is anticipated to contribute to the continuous evolution of this vibrant Miami locale.
The project's borrower, Property Markets Group (PMG), is well-regarded in the industry for its expertise in luxury real estate development across Miami. Notably, this financing operates in tandem with an additional $100.75 million senior construction loan from Madison Realty Capital, ensuring robust financial backing for the project.
Jose Mayoral, Siguler Guff's Vice President for Real Estate Investments, expressed his satisfaction with the collaboration, stating, "We are pleased to partner with Madison Realty Capital on this financing and support Property Markets Group in the development of Twenty Sixth 2nd Residences. Wynwood is an exceptional neighborhood that offers a dynamic mix of cultural, dining, and nightlife experiences. We are proud to play a role in delivering a project that aims to enhance its appeal for future residents."
The development highlights Wynwood's remarkable transformation into one of Miami's most desirable locations. Josh Zegen, Co-Founder and Managing Principal of Madison Realty Capital, noted that the Twenty Sixth 2nd Residences is strategically positioned to further advance this momentum. He mentioned, "This thoughtfully conceived residential project, replete with amenities, will add to the charm and allure of a neighborhood that continues to attract residents and visitors alike."
Potential residents of Twenty Sixth 2nd Residences can look forward to an array of impressive amenities. The development will feature a rooftop pool accompanied by cabanas, an outdoor bar and lounge area, and a state-of-the-art fitness studio. Additionally, a wellness circuit offering steam rooms, sauna facilities, and cold plunge areas marks the commitment to health and well-being. A meditation house and curated art installations are also part of the unique offerings, aiming to create an environment that encourages relaxation and a sense of community.
Each residential unit within the project will be delivered fully furnished, equipped with cutting-edge smart building technology that promises modern convenience and sustainability. With these extensive offerings, the development aims to set a new standard for luxury living in urban settings.
Siguler Guff itself is a multi-strategy private markets investment firm managing approximately $18.4 billion in assets across various sectors. Founded in 1991 and becoming an independent entity in 1995, the firm has developed a commendable reputation in the investment landscape, particularly in private markets. Its focus is on opportunistic investments and providing substantial returns for its clients, including over 800 institutional partners and more than 1,000 family offices. The firm’s experience encompasses a wide range of investment strategies, including small buyouts, emerging markets, opportunistic credit, real estate, and small business credit. As it sets its sights on the Wynwood development, Siguler Guff's involvement is anticipated to contribute to the continuous evolution of this vibrant Miami locale.
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