A $1.11 billion construction-financing package has been assembled for the 67-story Mercedes-Benz Places–Miami tower at 140 SW 11th Street in Brickell, with term sheets signed and a closing expected before the end of 2026.

Who is providing the financing for Mercedes-Benz Places–Miami?

J.P. Morgan is leading the deal with an $860 million construction loan, while Nuveen Green Capital has committed approximately $250 million in Commercial Property Assessed Clean Energy (C-PACE) debt — together totaling the $1.11 billion package reported on September 30, 2026. Walker & Dunlop is negotiating the financing on behalf of the development team.

  • J.P. Morgan's $860 million loan represents the senior debt layer of the capital stack.
  • Nuveen Green Capital's roughly $250 million C-PACE commitment layers in green-aligned subordinate financing.
  • Walker & Dunlop is serving as the financing broker negotiating terms for the borrowers.

What will be built at 140 SW 11th Street in Brickell?

JDS Development Group and Fontainebleau Development are jointly developing Mercedes-Benz Places–Miami, a 791-unit luxury branded-condominium project that will rise 67 stories above Brickell. The tower carries the Mercedes-Benz brand under a licensing or partnership arrangement, positioning it among a growing class of automaker-affiliated residential developments in South Florida.

  • The project is located at 140 SW 11th Street, within walking distance of the Brickell City Centre and Metrorail.
  • JDS Development Group, led by Michael Stern, has developed high-profile supertall projects in New York City before expanding to Miami.
  • Fontainebleau Development brings the legacy of the iconic Miami Beach resort brand to the partnership.

When does construction on the tower actually begin?

Construction is expected to unlock once the financing package formally closes, which both parties are targeting before December 31, 2026. The signing of term sheets on or around September 30, 2026 marks a significant milestone, moving the project from planning into the active pre-construction phase.

What does this financing deal mean for the Brickell real estate market?

A construction loan of this scale — among the largest ever assembled for a single residential tower in Miami — signals continued institutional confidence in Brickell's luxury condominium market even as interest rates remain elevated. The inclusion of C-PACE financing from Nuveen Green Capital also reflects a broader industry shift toward structured green-energy debt instruments as a tool for closing large capital gaps on major mixed-use and residential projects.

  • C-PACE financing is repaid through a special assessment on the property tax bill, reducing lender risk.
  • The deal's size underscores Brickell's position as one of the most active luxury residential construction corridors in the United States.

Original reporting on the financing terms was first published by Commercial Observer.