
Two Chicago development firms, Focus and Group Fox, have secured $250 million to build Brickell Starlight, a luxury multifamily development in Miami’s coveted financial district, Commercial Observer can first report.
The financing from San Antonio-based Affinius Capital will fund the construction of the 39-story development, which is set to include 517 apartments at 125 Southwest Seventh Street, just west of the Brickell City Center mixed-use complex and the Metromover rail line. Construction is expected to start before the year ends.
“Brickell continues to solidify its reputation as a global epicenter for finance, culture and lifestyle, attracting affluent professionals and international residents seeking premium housing,” Tim Anderson, Focus’ CEO and founder, said in a statement. “Despite surging demand, new multifamily supply in Brickell, the most prominent submarket in Miami, remains extraordinarily limited, creating a significant opportunity for new development.”