Mast Capital, Starwood Receive $390M Construction Loan from Eldridge for 73-unit Residential Project in Miami Beach

1/21/2025

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REBusinessOnline

• Subcategory: Capital Markets: Debt, SF: Attached

• Tag: Closing | JV-Partnership | New Construction

• Additional Filters-Subcategory: Capital Markets: Credit Facility, Capital Markets: Debt-Construction Loan, Hospitality: Branded Residences, MF: Condo, SF: Condo

• Additional Filters-Tags: Sale: SF-Condo

• Company: Starwood Capital Group (NYSE: STWD)

A joint venture between Mast Capital and a controlled affiliate of Starwood Capital Group has secured $390 million in construction financing for The Perigon Miami Beach, a 73-unit condominium development located at 5333 Collins Ave. in Miami Beach. Eldridge Real Estate Credit, a Greenwich, Conn.-based asset manager and holding company, provided the loan.