A joint venture between Miami-based Prosper Group and Belgium's Versluys Group has closed on a one-acre, three-parcel assemblage along the Miami River in Brickell for $50 million, launching plans for a $650 million ultra-luxury residential skyscraper.

What did Prosper Group and Versluys Group just purchase in Brickell?

Prosper Group and Versluys Group together acquired a one-acre, three-parcel site with more than 300 feet of Miami River frontage in Brickell, paying $50 million in a deal financed in part by a $30.5 million acquisition loan from Vaster Capital. The transaction was completed off-market, with the sellers being Two Roads Development and Newgard Development Group.

  • Acquisition loan of $30.5 million provided by Vaster Capital
  • Site spans three parcels totaling approximately one acre
  • Deal was structured entirely off-market, bypassing a public listing process
  • Sellers were Two Roads Development and Newgard Development Group

What tower is planned for the Miami River site?

The joint venture intends to develop a 60-story ultra-luxury condominium tower containing 181 residences, with a projected total valuation of $650 million. The building will command over 300 feet of direct frontage along the Miami River, positioning it among the most prominent waterfront addresses in Brickell's densely developed skyline.

  • Planned tower: 60 stories, 181 ultra-luxury condo units
  • Total project valuation: $650 million
  • River frontage: more than 300 linear feet
  • Location: Brickell neighborhood, along the Miami River

Why is this deal significant for Brickell and the broader real estate market?

The transaction marks the official entry of Versluys Group — a major Belgian real estate developer — into the United States market, signaling continued international confidence in South Florida's luxury residential sector. For Brickell specifically, the project adds to a wave of high-rise condo development transforming the neighborhood's riverfront into some of the most sought-after residential real estate in the country.

  • Versluys Group's U.S. market debut underscores Miami's appeal to European capital
  • Brickell's Miami River corridor has attracted multiple large-scale luxury condo projects in recent years
  • The $650 million valuation would place this among the highest-valued residential towers planned for the area

Original reporting by The Real Deal Miami.