Construction is now underway on Maizon at Brickell after a bank issued a $52m construction loan.
The developers paid $16m for the property after obtaining approval to build.
ZOM Florida and Invesco Real Estate Break Ground on Luxury Highrise Apartments in Miami
262 unit Class A luxury highrise in an excellent walkable location within the Brickell district of Miami
Maizon at Brickell
JUNE 01, 2017
ZOM Florida, and Invesco Real Estate, a global real estate investment manager, recently broke ground on MAIZON AT BRICKELL, a 262-unit multifamily highrise located within the Brickell district of Miami. This distinctive project will comprise both an 8 and 19 story midrise and highrise structure with attached structured parking, and occupies an excellent location within walking distance of Mary Brickell Village, Brickell City Centre, Miami Avenue and Brickell Avenue shopping venues, as well as over 50 restaurants within a five block radius.
“We are excited to partner with Invesco Real Estate on our first ever development venture together” said Kyle Clayton, ZOM Florida’s Development Vice President. “Our project site has excellent pedestrian access to the numerous retail, entertainment, and employment locations available in Brickell, and is also convenient to downtown Miami via the multi-modal public transportation nearby. Maizon will bring a new level of quality, unit features and amenities to the burgeoning West Brickell neighborhood.”
“We are very enthusiastic about the future of the Brickell neighborhood and the Miami market as a whole. Invesco Real Estate looks forward to working with ZOM to deliver a high quality product that will be distinctive in the market. We’re hopeful that the new relationship with ZOM will bring opportunities for future high quality investments benefiting our institutional clients,” said Evan Roth, Acquisitions Director at Invesco Real Estate.
Maizon is expected to deliver the first units in Q1 2019, with pre-leasing starting in late 2018. ZRS Management, LLC has been retained to provide leasing and property management services. Construction financing was provided by Santander Bank. Moss is the general contractor, and MSA Architects, Inc. is the architect firm for the project.