NEW YORK, June 06, 2023 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced it has originated a $262 million construction loan to developers PMG and E11EVEN Partners for E11EVEN Residences Beyond, an ultra-luxury, dual-tower development located in Miami’s District 11 neighboring the E11EVEN Hotel & Residences Miami development.
Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “We are excited to draw from our significant expertise and scale in the Miami market to work with PMG and E11even Partners to deliver an exciting new luxury residence centrally located in Miami’s vibrant District 11. PMG has already successfully presold 83% of residences to date as Miami continues to attract major businesses and demand from professionals seeking highly amenitized housing options continues to rise. PMG has decades of experience and development expertise in Miami, and we are pleased to work with them again to deliver a flexible financing solution for E11even Residences Beyond.”
“It is an exciting time to be in Miami’s burgeoning District 11, as evidenced by strong sales and continued support from top lenders such as Madison Realty Capital. Together with our partners, we are thrilled to have reached this important milestone, as we embark on our journey in building E11EVEN Residences Beyond,” said Andrew Warman, Managing Director at PMG.
“We are confident that E11EVEN Residences Beyond will enhance the neighborhood, seamlessly blending exclusive residential ambiance with exceptional entertainment, exquisite dining, and the dynamic energy District 11 is renowned for. With this loan secured, we are eager to welcome future residents to this extraordinary project and deliver an unparalleled, VIP experience,” added Ryan Shear, Managing Partner at PMG.
Centrally located in Downtown Miami’s District 11, E11EVEN Residences Beyond and E11EVEN Hotel & Residences Miami offer a resort-style, entertainment-driven experience and destination – the first of its kind in the Southeastern United States. Floor plans at both of its towers range from studios to two bedrooms in addition to a presidential collection and penthouse suites. Each unit comes equipped with fully-integrated “smart building” features, Subzero and Wolf appliances, custom ITALKRAFT Italian cabinetry, top-level finishes, and designer-curated furnishings. The soaring 65-story towers will be designed by internationally renowned Sieger Suarez Architects with interiors by award-winning design firm AvroKO. E11EVEN Partners Marc Roberts, Michael Simkins, and Dennis DeGori and PMG partners Kevin Maloney, Ryan Shear and Dan Kaplan are the developers behind the E11EVEN Hotel & Residences development.
Amenities for E11EVEN Residences Beyond and E11EVEN Hotel & Residences include a Chopra Spa & Studio, a five-star restaurant collection by Riviera Dining Group, a casino-style sports lounge, a med spa, a rooftop pool and bar, an E11EVEN day club and pool on the 11th floor, and both a second-floor restaurant with a ground-floor escalator entrance for direct access and an upscale lounge and private membership club located on the tower’s rooftop, created by Riviera Dining Group.
In addition to the amenities at the E11even Hotel & Residences, buyers at E11EVEN Residences Beyond will have exclusive access to the E11EVEN Beyond Members Social Club and private facilities including a helipad, a signature restaurant, fully staffed executive office suites, a state-of-the-art fitness center, an expanded resort-style pool, and The Clayton, an ultra-premium social club.
The transaction was brokered by Jones Lang LaSalle (NYSE: JLL).
For more information on E11EVEN Hotel & Residences, please visit www.E11EVENResidences.com.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of March 31, 2023, manages $10 billion in assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed $23 billion of real estate transactions largely through direct lending to borrowers with flexible and highly customized financing solutions. Madison Realty Capital’s strong underwriting capabilities provide certainty of execution in complex, time sensitive situations. Headquartered in New York City, with offices in Los Angeles, Dallas, and Israel, the firm has 75 employees across its real estate investment, asset management, and development disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players every year since 2016 and was recognized in March 2023 by PERE as the Debt Firm of the Year, North America for Fiscal Year 2022. To learn more, follow us on LinkedIn and visit madisonrealtycapital.com.
About PMG
Founded in 1991 by Kevin Maloney, Property Markets Group (PMG) has evolved from a local New York City based real estate operator to a national investment, development, and asset management firm focused on large scale multifamily and for-sale condominium projects, as well as select high-performing commercial holdings.
Today PMG is run by Managing Partners Ryan Shear and Dan Kaplan, currently operating across Florida, New York, Colorado, Tennessee, and Georgia. Their vertically integrated team has departments specializing in acquisitions and land use, design and architecture, construction management, capital markets, asset management, sales and marketing, as well as significant in-house legal and accounting capabilities.
PMG’s current multi-billion dollar nationwide portfolio includes assets across pre-development, construction, lease-up, and sell out, totaling more than 8,500 residential units and over 16 million square feet of development. Notable rental projects under the Society Living brand platform include locations in Denver, Nashville, Atlanta, Brooklyn, Orlando, Fort Lauderdale and Miami. Notable current condominium projects include 111 West 57th Street in New York City; E11EVEN Hotel & Residences, Waldorf Astoria Hotel & Residences and The Elser Hotel & Residences in Miami; as well as Sage Longboat Key Residences and One Park Sarasota on Florida’s west coast. Additionally, PMG is growing its Affordable Housing division nationally. For more information, visit propertymg.com.
About E11EVEN Partners
E11EVEN PARTNERS is a leading hospitality, lifestyle, and entertainment company based in Miami, Florida. Led by Dennis DeGori, Michael Simkins, and Marc Roberts, along with operating partners Gino LoPinto, Daniel Solomon, Ken DeGori, Frances Martin and Derick Henry E11EVEN PARTNERS is responsible for the ownership, marketing, management, and the creative direction of E11EVEN MIAMI and Rooftop. With over 150 years of combined experience between its partners, E11EVEN PARTNERS possesses one of the industry’s most dynamic leadership teams.
With its launch in 2014, E11EVEN ultraclub concept was the first of its kind, creating an unparalleled hospitality and nightlife experience for its guests. E11EVEN’s accolades include being awarded “Best New Nightclub Concept,” perennially voted among the top 10 nightclubs worldwide, and becoming the highest-grossing nightclub per square foot globally.
In addition to E11EVEN MIAMI, E11EVEN PARTNERS has continued to develop and expand the E11EVEN name & lifestyle with the creation of E11EVEN Brand; the E11EVEN Life hat and apparel line; E11EVEN Sound By Das Audio; E11EVEN Music; E11EVEN Captain’s Club; E11EVEN Vodka, for which they licensed its name; E11EVEN Crypto; and the new rooftop restaurant, Giselle.
E11EVEN PARTNERS is poised for growth and continued success with future projects in real estate, hospitality, and entertainment with their eye on the future.
Media Contact
For Madison Realty Capital:
Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
For PMG:
Levy Public Relations
pmg@levypublicrelations.com
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