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PMG Lands $215M to Build Condo Tower Near Miami Nightclub

Summary by Commercial Observer

PMG and some of the owners of the E11even nightclub have landed a $215 million construction loan from GoldenTree Asset Management for yet another condo tower near Downtown Miami after nearly selling out the planned units. Called 38 West Eleventh Residences, the 44-story development is a partnership with Lion Development Group and Marc Roberts Companies, whose respective founders, Michael Simkins and Marc Roberts, own stakes in E11even, one of M…

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The Next Miami

Park West Tower Gets $215M Construction Financing, 99% Sold

West Eleventh Residences is now 99% sold and has secured $215 million in construction financing. Completion is planned for Q1 2028. A groundbreaking ceremony took place in September 2024. The tower will rise 44 stories, with 659 residential condos allowing flexible rentals. It will also have a three-level “experiential” entertainment venue. A glass floor pool is being built, with views into a restaurant below. A whale sculpture will extend from …

3 days ago

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