News June 01, 2023
PMG, E11even Partners score $262M construction loan
The Real Deal reported that New York and Miami-based Property Markets Group, and E11even Partners, led by Marc Roberts, Michael Simkins and Dennis DeGori, secured a $262 million construction loan from Madison Realty Capital for E11even Residences Beyond. The first planned condo building, the 449-unit E11even Hotel & Residences Miami, nearly presold out quickly after launching sales in early 2021. The second, then a planned 461-unit condo building, previously was more than 90 percent presold, but the developers recently amended their plans to add more units and amenities to the tower. Now it’s about 80 percent presold, with more than 550 units planned. A JLL team led by Christopher Peck and Brian Gaswirth arranged the loan.