PMG Secures $413 Million Loan to Launch One Twenty Brickell Residences
National developer PMG (Property Markets Group) has secured a $413 million construction loan to finance One Twenty Brickell Residences, a dual-tower luxury development set to rise in the heart of Brickell, Miami. The financing, provided by Ares Real Estate and Monarch Alternative Capital, will support the project’s condominium, multifamily, commercial, and parking components.
The deal was arranged by Jones Lang LaSalle (JLL) in collaboration with PMG’s Capital Markets team, including Andrew Warman, Jon Blank, and Paton Marion. Construction is set to officially begin in early May, with completion targeted for 2028.
“This financing is a major achievement given today’s complex market environment for multifamily development,” said Andrew Warman, Managing Director of Capital Markets at PMG. “The continued support from Ares and Monarch highlights both confidence in PMG and our strategic vision to deliver premium for-sale and rental residences in Miami’s thriving urban core.”
Designed by Sieger Suarez Architects, with interiors by Cotofana Designs, the project will include:
- A 37-story tower with 266 fully finished and furnished condos, each with a deeded office suite
- A 41-story tower offering 537 luxury rental apartments, managed by Sentral
- Premium finishes, custom cabinetry by Italkraft, WaterWorks fixtures, smart home tech, and curated appliance packages across all residences
The condo tower is already over 91% sold, signaling strong demand for PMG’s innovative residential concept.
Amenities across both towers will total over 100,000 square feet, including:
- A wellness and fitness center with sauna, steam room, and yoga lawn
- Infinity-edge pools, pickleball courts, kid’s areas, co-working spaces, and resident lounges
- Concierge services, modern gyms, and curated programming for both social and wellness experiences
“We’re proud to bring this visionary concept to life in Brickell,” said Dan Kaplan, Managing Partner at PMG. “The market’s enthusiastic response affirms our team's deep understanding of Miami’s evolving luxury landscape.”
Legal counsel for the transaction included multiple firms:
- Kramer Levin Naftalis & Frankel LLP (lead transactional counsel)
- Saul Ewing LLP (condominium and local counsel)
- Bilzin Sumberg (land use)
- Greenberg, Trager & Herbst, LLP (construction counsel)
PMG, with over 175 completed projects nationwide, continues to lead in luxury development with notable properties like 111 West 57th Street (NYC), Waldorf Astoria Residences (Miami), and Sage Intracoastal (Fort Lauderdale). Its Society Living brand also anchors its national multifamily expansion.
Please contact David Freed, for more information on Miami condo sales.
