CMC Group does $236m financing deal in Miami for Brickell Flatiron

The CMC Group, based in Miami, has locked up $236 million in financing for the completion of its residential condominium tower, Brickell Flatiron. Located at 1001 South Miami Avenue in Miami’s Brickell financial district, the 64 story project will house 549 units. Holliday Fenoglio Fowler arranged the funding with a $138.3 million senior loan and a $97.968 million mezzanine loan. Loan proceeds will be used to complete the project and market the remaining units. Slated for completion in mid-2019, the project will be the tallest residential tower south of New York City, with amenities including a rooftop amenity deck with signature spa, swimming pool with cabanas, private movie theater, specialty wine, concierge service; and state-of-the-art smart home technology. “Even though the debt market was extremely tight for luxury condominium projects such as Brickell Flatiron, CMC’s extraordinary track record and ability to deliver best-in-class product attracted strong interest in the financing,” said Jeff Dockerty