Newmark Arranges $111 Million Construction Financing For Multifamily Development In Miami

Newmark arranged a $111 million construction loan for The Perrin, a 26-story, 310-unit multifamily development at 901 SW 3rd Avenue in Miami.

Newmark Senior Managing Director Danny Matz secured the financing on behalf of the sponsor, The Empira Group. The loan was provided by Goldman Sachs.

Slated for completion in 2028, The Perrin is Empira’s first high-rise development in the U.S. The project will include 2,500 square feet of ground-floor retail, 380 parking spaces and a mix of studio to three-bedroom residences. Planned amenities include a fitness center with a yoga room, co-working and entertainment lounges, a resort-style pool with cabanas and BBQ grills and a rooftop zen garden and tea room.

“The Perrin is a true market-making development – one of the few high-rise residential towers to break ground in Brickell in recent years,” said Matz. “This marks Empira’s second major construction loan closing in 2025 – a clear testament to its momentum and growing impact on the Miami skyline. We’re proud to have helped structure a financing solution that supports its U.S. growth strategy and brings institutional capital to a transformative development.”

Newmark conducted a comprehensive capital markets process, engaging a broad range of lenders including banks, debt funds, finance companies and life companies. Strong interest was driven by the project’s prime location, resilient rental fundamentals and the sponsor’s track record in large-scale, mixed-use developments across Europe.

Located in the heart of Miami’s Brickell neighborhood, The Perrin offers immediate access to I-95 and is a six-minute walk from the Brickell Metrorail Station, providing direct connectivity to Downtown, the University of Miami and Miami International Airport. Residents will be within walking distance of Brickell City Centre and Mary Brickell Village, with convenient access to key destinations including Wynwood, Coconut Grove, Coral Gables and Miami Beach.