One Thousand Group and Terra Secure $285M Construction Loan for Villa Miami in East Edgewater
One Thousand Group and Terra have secured a $285 million construction loan to bring Villa Miami to fruition in Miami’s East Edgewater neighborhood. This 650-foot-tall waterfront condominium, the first-ever residential tower branded by Major Food Group (MFG), is poised to become a new architectural icon on Biscayne Bay. Designed by ODP Architects, the tower will feature 70 private residences, a helipad, and a distinctive copper-colored exoskeleton. Construction commenced earlier this month, with completion anticipated in 2027.
The financing was provided by TYKO Capital, backed by Elliott Investment Management and led by Adi Chugh. TYKO, a multi-billion-dollar commercial real estate investment platform, has financed notable projects such as Manhattan’s Flatiron Building, Miami’s St. Regis Residences, and 830 Brickell. The loan was arranged by Keith Kurland and Jordan Casella of Walker & Dunlop, who previously worked with Terra on a $170 million loan for Upland Park near Dolphin Mall.
“The financing for Villa Miami highlights the demand for bespoke, boutique residential experiences,” said David Martin, CEO of Terra. “Lenders are drawn to best-in-class projects led by trusted teams with a strong track record. Villa Miami brings together top-tier talent to create a landmark residence in Edgewater, one of Miami’s most connected neighborhoods.”
Scheduled to rise 650 feet across 56 stories, Villa Miami broke ground on December 5th during Miami Art Week. The project includes 70 ‘estate-style’ residences with full- and half-floor layouts, offering 360-degree views of Biscayne Bay and Miami’s skyline. Residences, ranging from 3,000 to 6,000 square feet, start at $5 million.
“Branded residences are redefining luxury by combining expertise from food and hospitality leaders like Major Food Group,” said Kevin Venger, Co-Founder of One Thousand Group. “With its prime waterfront location, iconic architecture, and exceptional amenities, Villa Miami sets a new standard for sophisticated living.”
Edgewater continues to attract Northeastern buyers for its central location near sought-after areas such as the Design District, Midtown, and Miami Beach. These neighborhoods boast top-rated dining, boutique shopping, and cultural destinations. Villa Miami will feature an exclusive MFG restaurant concept on the ground floor.
Villa Miami marks Major Food Group’s first venture into residential development. Co-founded by Jeff Zalaznick, Mario Carbone, Rich Torrisi, and Miami partner Alex Pirez, MFG will offer its signature high-end dining experience to residents through the Copper Club, a private amenity space spanning multiple floors.
The interiors, crafted by Vicky Charles of Charles & Co., reflect the romance of waterfront cities like Venice and the French Riviera, reimagined with a modern Miami aesthetic. Charles, known for her work with high-profile clients like Sony Music and celebrities such as George and Amal Clooney, drew inspiration from Villa Miami’s bayfront setting.
Villa Miami’s development team boasts an impressive portfolio of iconic projects. Terra, led by David Martin, recently delivered Five Park Miami Beach and Mr. C Residences Coconut Grove. Other highlights include the Renzo Piano-designed Eighty Seven Park, the Rem Koolhaas/OMA-designed Park Grove, and the Bjarke Ingels-designed Grove at Grand Bay. One Thousand Group’s achievements include the Zaha Hadid-designed One Thousand Museum and Ten Museum Park. The firm also recently acquired another Edgewater site for a Kohn Pedersen Fox-designed tower.
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