Dezer Development has successfully secured a substantial $630 million construction loan, marking the largest financing deal in South Florida this year, to bring the first-ever Bentley-branded condominium tower to life in Sunny Isles Beach, Florida. Madison Realty Capital provided the significant funding, with Berkadia facilitating the transaction.
Key Takeaways
- Dezer Development has secured $630 million in construction financing for the Bentley Residences.
- The project is the first Bentley-branded condo tower and is located in Sunny Isles Beach, Florida.
- Half of the ultra-luxury residences, priced at $37.5 million each, have already been sold.
- The tower is designed to feature unique car elevators and is slated for completion in 2028.
A New Era of Ultra-Luxury Living
The Bentley Residences will stand as a 61-story architectural marvel, housing 216 exclusive residences. A standout feature of this development is its innovative elevator system, capable of transporting residents and their vehicles directly to private sky garages. Designed by Sieger Suarez Architects in collaboration with Bentley Motors, the project aims to redefine upscale living.
Project Details and Amenities
Construction is well underway, with site preparations and the tower foundation nearing completion. The development is scheduled for completion in 2028. The residences, each priced at an average of $37.5 million, have already seen over 50% of units sold, indicating strong market demand for this unique offering. Bentley Motors, in partnership with REALM-Global, initiated the project planning in 2022, with initial plans positioning the tower as the tallest coastal residential building in the U.S.
Beyond the unique car elevators, the Bentley Residences will offer an array of world-class amenities. These include a private restaurant with a menu curated by renowned chef Todd English, a whisky bar, a cigar lounge, a cinema, a wellness spa, an oceanfront pool deck, a fitness center, a yoga studio, a heated swimming pool, a beauty salon, and exclusive beach access.
Prime Location and Market Trends
The skyscraper is situated on a 2.3-acre site at 18325 Collins Ave., approximately 20 miles from downtown Miami. This prime location places it within walking distance of the Porsche Design Tower, another testament to Dezer’s successful collaborations with luxury automotive brands in real estate. The rise of branded residences, including those from luxury car manufacturers and hotel chains, reflects a growing trend in the high-end multifamily sector, appealing to buyers seeking both investment potential and a resort-style living experience.