BRESI OVERVIEW: JEM Private Residences Miami – featuring FENDI Casa interiors
Financing Secured: Naftali Group have secured $465 million in construction funding for JEM Private Residences in Downtown Miami, combining $235 million in C-PACE financing from Nuveen Green Capital and $230 million in traditional construction loans from Bank Hapoalim.
Luxury High Rise Design: The 67-story tower, designed by Arquitectonica and Rockwell Group, will feature 259 residences starting on the 43rd floor, topped with exclusive Sky Villas featuring FENDI Casa interiors that showcase the brand’s signature style.
Resort-Style Amenities: The 50th-floor amenity suite includes a 60-foot outdoor pool with a Lorenzo Quinn sculpture, indoor Sky Lounge, advanced fitness facilities, boxing arena, yoga patio, full spa suite, co-working space, and spirits tasting room.
Strategic Location Advantages: Situated in Miami Worldcenter’s urban core, the development offers walkable access to world-class retail, museums, cultural venues, dining, and major transportation hubs including Brightline, Metrorail, and Miami International Airport.
Strong Market Performance: Construction began in April 2024 with rapid sales momentum, including an $8 million Sky Villa sale, and the project is currently rising past its sixth level with completion anticipated in Q4 2027.
Naftali Group Secures Construction Financing for JEM Private Residences in Miami
Naftali Group has secured a combined $465 million in construction loan financing for JEM Private Residences, a 67-story luxury tower in the heart of Downtown Miami’s Miami Worldcenter. The financing package includes $235 million in C-PACE financing from Nuveen Green Capital and an additional $230 million in traditional construction loans from Bank Hapoalim.
The development marks a significant milestone for sustainable commercial real estate financing in Florida. The transaction represents the largest C-PACE-financed multifamily project to date in the state, demonstrating the growing adoption of this financing structure by institutional developers for large-scale projects.
Prime Location in Miami Worldcenter
JEM Private Residences occupies a strategic position within Miami Worldcenter’s urban core, one of the few walkable destinations in Miami. The location provides residents with access to world-class retail, museum and cultural institutions, entertainment venues, and acclaimed dining options.
The development also benefits from proximity to major transportation hubs, including Brightline, Metrorail, and Miami International Airport.
“Today, we closed the second phase of our construction loan while hundreds of construction workers are working hard on building our remarkable project in the heart of Miami Worldcenter,” said Miki Naftali, Chairman and CEO of Naftali Group. “Our JEM private residences offer quality second to none in one of the only walkable destinations in Miami with world-class retail, museum and cultural institutions, entertainment and incredible dining. It is the center of all major transportation, like the Brightline, Metrorail and the Miami International Airport. With JEM Private Residences, we’re bringing a new level of design, quality and attention to detail that defines our work, creating a building that will stand the test of time in the Miami skyline.”
Design Driven Amenities & Lifestyle
Designed by Arquitectonica and Rockwell Group, the 67-story tower will feature 259 residences beginning on the 43rd floor. The top of the building will be crowned with exclusive Sky Villas with Interiors by FENDI Casa, showcasing the brand’s timeless aesthetic throughout the most prestigious units.
The 50th-floor amenity suite offers residents a comprehensive lifestyle experience. Features include a 60-foot outdoor pool complemented by a sculpture from renowned artist Lorenzo Quinn, an indoor Sky Lounge, and a state-of-the-art fitness center.
Additional amenities include a boxing arena, yoga patio, and a spa suite equipped with steam, salt, and sauna rooms. For professional and social activities, the tower includes a co-working space and a spirits tasting room.
Alexandra Cooley, CEO and Chief Investment Officer of Nuveen Green Capital, said, “It was an honor to partner with Naftali Group once again for this notable luxury property in downtown Miami. By leveraging C-PACE’s low-cost, long-term financing and structuring flexibility, in combination with BHI’s senior construction loan, Naftali was able to finance their project cost-effectively. This record-setting transaction, the largest C-PACE-financed multifamily project to date in Florida, underscores the continued adoption of C-PACE by institutional borrowers to fund their large-scale projects.”
The financing arrangement highlights the benefits of combining C-PACE financing with traditional construction loans. C-PACE, or Commercial Property Assessed Clean Energy, provides low-cost, long-term financing with structural flexibility that appeals to institutional borrowers.
Bank Hapoalim’s participation reflects the institution’s commitment to South Florida’s real estate market and its strategy of partnering with developers who bring lasting impact to the region.
“South Florida remains a key market within BHI’s strategic growth plan, and partnering with developers who bring meaningful, lasting impact to the region is central to our approach,” said Ilana Druyan, Senior Vice President, Team Leader and Head of International Origination, CRE at BHI. “Naftali Group’s presence in Miami is growing, and we’re pleased to support their ongoing efforts to expand compelling inventory throughout the Miami market.”
Construction Progress and Market Reception
Construction progress on JEM Private Residences is moving forward on schedule. The project broke ground in April 2024, just under six months after bringing the project to market, an unusually fast timeline for the Miami real estate market.
The tower remains on track for completion in the fourth quarter of 2027.
Market response has been strong, with sales moving at a robust pace. The recent $8 million sale of Sky Villa 2 with Interiors by FENDI Casa demonstrates the market’s appetite for high-quality residential products in Downtown Miami.
The sales momentum reflects Naftali Group’s track record as a developer and confidence in South Florida’s continued growth as a destination for luxury residential properties.
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