Starwood Capital Group lands $76m construction loan for new Miami Beach HQ building
Starwood Capital Group, the investment firm with nearly $60 billion in asset management that relocated from Connecticut to South Florida in 2018, has secured a $76 million construction loan for its new headquarters building.
The six-story, 144,000 square-foot facility, to be located at 2340 Collins Ave. in Miami Beach, is expected to be completed in late 2021. The building, designed by the architectural firm Gensler, will house 300 employees and feature 8,000 square feet of ground-level retail and restaurant space.
Carter McDowell, a partner at the Miami-based law firm Bilzin Sumberg, counseled Starwood through the two-year approval process. Citizens Bank, NA, provided the loan.
“Starwood Capital’s new headquarters will be the first-of-its-kind, Class A office space in Miami Beach, and a significant symbol of the domestic inbound investment we are seeing in South Florida,” McDowell said in a statement. “Beyond creating a new corporate headquarters that will attract talent and new investment to Miami Beach, the project will create an economic boost and new amenities for residents and visitors.”
The general contractor on the project will be Coastal/Brodson, A Joint Venture. Integra Investments will serve as developer.
This story was originally published April 9, 2020 at 2:58 PM.
_pp%20Cropped.jpg)