S3 Capital funds $111M Edgewater apartment tower in Miami
One of the year's larger Edgewater multifamily financings sends a 36-story tower toward a 2028 delivery.
Argentine developer HA Emprendimientos landed a $111 million construction loan to build Sense22, a 36-story, 328-unit apartment tower in Miami’s Edgewater, one of the larger multifamily construction financings to close in the neighborhood this year.
Why it matters
The deal shows foreign sponsors and debt capital continuing to underwrite ground-up towers in Miami even as construction lending has tightened nationally. Edgewater, the bayfront strip between downtown and the Design District, has absorbed a wave of high-rise rental development, and a nine-figure loan closing here signals lenders still see rent growth to support new supply. S3 Capital, a private lender that has been scaling its construction book beyond its New York base, provided the three-year loan, its willingness to write large checks in South Florida underscores how the market keeps drawing out-of-state balance sheets into capital for new projects.
The numbers
The $111 million loan carries a three-year term and funds a tower with studios, one- and two-bedroom apartments across 328 units. Amenities include a resort-style pool deck, a furnished rooftop terrace with grilling areas, a spa, a fitness center, coworking space and 372 parking spaces. JLL Capital Markets’ Max La Cava and Pier Barinci arranged the financing; the same team secured the land and predevelopment loan for the site in 2025.
What’s next
With construction financing in place, Sense22 advances toward a 2028 completion. The project adds to Edgewater’s dense pipeline of transit-adjacent rental towers, and its close follows a run of institutional and international capital flowing into South Florida multifamily, a pattern that continues to reset the basis for developable sites near Miami’s urban core.