Mercedes-Benz Places-Miami Secured Financing
J.P. Morgan and Nuveen Green Capital have signed term sheets for a $1.11 billion loan package for the project.
Updated on Sept. 30, 2026 in Commercial
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J.P. Morgan and Nuveen Green Capital are backing the 67-story Mercedes-Benz Places-Miami tower with a $1.11 billion financing deal. This agreement follows the inclusion of Fontainebleau Development as a project partner earlier this year.
Why it matters
The financing marks a critical milestone for the massive mixed-use development, which had previously faced a foreclosure suit before Fontainebleau Development joined to advance the project.
The tower at 140 SW 11th Street will feature 791 luxury condos, 200,000 square feet of office space, and a 174-key hotel. The development also includes 130,000 square feet of dedicated amenity space.
The players
J.P. Morgan
This global financial services firm is one of the world's largest banking institutions and a primary lender for large-scale real estate projects.
Nuveen Green Capital
The firm is a leader in sustainable commercial real estate finance that specializes in C-PACE loan structures.
Fontainebleau Development
This is a real estate development firm known for managing and constructing luxury hotel and residential properties.
The details
J.P. Morgan is providing an $860 million construction loan collateralized by the entire project, while Nuveen Green Capital is contributing $250 million in C-PACE financing specifically for the commercial component. This infusion of capital supports the construction of the skyscraper in the Brickell neighborhood.
Timeline
Mercedes-Benz first lent its name to the tower project in 2024.
Fontainebleau Development became a partner earlier in 2026.
Financing package progress was confirmed on September 30, 2026.
The deal is expected to close by year end 2026.
Roadmap
This project exemplifies the high-density mixed-use development trend currently defining the skyline of major U.S. financial hubs. It highlights how luxury automotive brands are increasingly licensing their names to secure premium market positioning in competitive urban real estate markets.
The progress of this project signals continued growth for the Brickell neighborhood's luxury residential and professional office sector. Residents and investors can expect to see major construction activity at the 140 SW 11th Street site throughout the coming months.
The takeaway
Large-scale urban developments often rely on diverse financing sources like C-PACE to move forward after facing legal or financial hurdles. Investors in luxury real estate should monitor the closing of these deals as indicators of health for the high-end condominium market.
What happens next
The financing deal is expected to reach its official close by year end 2026.
Further reading
Learn more about the local market in Miami Commercial.
Source note: This article includes information reported by Commercial Observer.
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