Mercedes-Benz Tower Secured $1.11 Billion Financing
The Brickell project expects to finalize the massive construction and C-PACE loan package by the end of 2026.
Updated on Sept. 30, 2026 in Commercial
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The Mercedes-Benz Places-Miami tower in Brickell has moved closer to construction with a $1.11 billion financing deal now moving toward a close. J.P. Morgan and Nuveen Green Capital are backing the 67-story development, which aims to bring 791 luxury condos and new office space to 140 SW 11th Street.
Why it matters
The infusion of capital, bolstered by Fontainebleau Development joining as a partner earlier this year, keeps the high-profile project on track following a previous foreclosure suit. The site remains a test of luxury demand as the tower plans to integrate residential living with 200,000 square feet of office space and a hotel.
The deal includes an $860 million construction loan from J.P. Morgan and approximately $250 million in C-PACE financing from Nuveen Green Capital. These funds are set to cover a 67-story tower featuring 791 luxury condos, 200,000 square feet of office space, and a 174-key hotel.
The players
J.P. Morgan
The lead financier providing an $860 million construction loan for the project.
Nuveen Green Capital
The firm providing approximately $250 million in C-PACE financing collateralized by the tower's commercial component.
Fontainebleau Development
A developer that joined the project as a partner in 2026 to help move the development forward.
The details
J.P. Morgan is leading the construction loan collateralized by the entire project, while Nuveen Green Capital provides the C-PACE financing specifically for the commercial portions. Fontainebleau Development stepped in earlier in 2026 to resolve legal hurdles, effectively clearing the path to move the development forward. The project is expected to officially close the financing deal by the end of 2026.
Timeline
Mercedes-Benz first lent its name to the tower in 2024.
Fontainebleau Development became a partner earlier in 2026.
Financing package progress was confirmed on September 30, 2026.
The financing deal is expected to close by year end 2026.
Beyond the 305
This project signals a major shift away from the stalled developments and foreclosure actions that defined the Brickell landscape during 2023 and 2024. By securing $1.11 billion in capital, the tower marks a significant return to large-scale institutional backing for luxury high-rises.
The project's advancement signals long-term changes to the Brickell skyline and downtown density as the tower moves toward breaking ground on 140 SW 11th Street. Local residents and commuters should expect increased construction activity in the heart of the neighborhood following the year-end closing.
The takeaway
The securement of this financing suggests a cooling of the recent foreclosure pressures that had clouded the project's future. Watch for the official deal closing by the end of 2026 to see when site activity accelerates.
Further reading
For more on the local office and residential market, see our Commercial section.
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