JV Closes On $50M Off-Market Brickell Assemblage, $30.5M Loan

A joint venture between Prosper Group, a visionary luxury residential real estate firm with a $2.8 billion pipeline, led by CEO Jay Roberts, and Belgium’s Versluys Group, one of Europe’s leading luxury property developers, led by CEO Bart Versluys, announced the successful closing of a three-parcel assemblage for $50 million. Miami-based Vaster provided a $30.5 million acquisition loan.

Located at 66 SW 6th Street, 625 SW 1st Avenue, and a riverfront parcel that was previous part of 99 SW 7th Street that has yet to be assigned an address, the one-acre assemblage will pave the way for an upcoming ultra-luxury waterfront residential tower on the Miami River in Brickell.

The off-market site was acquired from Two Roads Development and Newgard Development Group., which purchased the parcels in 2022.

The closing follows Prosper Group’s partnership announcement with Versluys Group to deliver a $650 million, 60-story tower, which will feature 181 residences and more than 300 feet of direct river frontage.

“We are one step closer to bringing our vision for this development to fruition,” said Roberts. “With their deep local roots in Miami and exceptional agility, Vaster proved to be the ideal partner, ensuring a completely seamless execution for this transaction. Prosper Group and Versluys Group look forward to unveiling more about our project on one of the last waterfront sites in Brickell, Miami’s financial district and urban core.”

 

“This closing marks a defining milestone for Versluys Group as we bring our European heritage of craftsmanship to Miami’s waterfront,” said Versluys. “For over a century, we have shaped the Belgian and Dutch coastline with architecture built for generations and we bring that same discipline to the Miami River. Alongside Prosper Group, we will craft world-class residences that embody a unique combination of American ambition and vision with European finesse and style.”

Situated directly on the Miami River, the development will offer immediate access to Brickell’s urban core, including the dining, retail, and entertainment at Brickell City Centre. Waterfront access will provide direct connectivity to Biscayne Bay and Miami’s broader boating network, while proximity to I-95, Miami International Airport, and Brightline will connect residents to destinations across South Florida and beyond.

The Brickell riverfront development is part of Prosper Group’s growing portfolio across South Florida, Tampa, and beyond, including a project on Brickell’s South Miami Avenue, an upcoming waterfront development in North Bay Village, and Hotel ORA + Private Residences in Tampa.