Newmark Arranges $111 Million Construction Financing for 310-Unit Multifamily Development in Miami, Florida

June 10, 2025 9:00 AM

Newmark announces the company has arranged a $111 million construction loan for The Perrin, a 26-story, 310-unit multifamily development at 901 SW 3rd Avenue in Miami, Florida. Newmark Senior Managing Director Danny Matz secured the financing on behalf of the sponsor, The Empira Group (“Empira”). The loan was provided by Goldman Sachs.

Slated for completion in 2028, The Perrin is Empira’s first high-rise development in the U.S. The project will include 2,500 square feet of ground-floor retail, 380 parking spaces and a mix of studio to three-bedroom residences. Planned amenities include a fitness center with a yoga room, co-working and entertainment lounges, a resort-style pool with cabanas and BBQ grills and a rooftop zen garden and tea room.

“The Perrin is a true market-making development – one of the few high-rise residential towers to break ground in Brickell in recent years,” said Matz. “This marks Empira’s second major construction loan closing in 2025 – a clear testament to its momentum and growing impact on the Miami skyline. We’re proud to have helped structure a financing solution that supports its U.S. growth strategy and brings institutional capital to a transformative development.”

Newmark conducted a comprehensive capital markets process, engaging a broad range of lenders including banks, debt funds, finance companies and life companies. Strong interest was driven by the project’s prime location, resilient rental fundamentals and the sponsor’s track record in large-scale, mixed-use developments across Europe.

Located in the heart of Miami’s Brickell neighborhood, The Perrin offers immediate access to I-95 and is a six-minute walk from the Brickell Metrorail Station, providing direct connectivity to Downtown, the University of Miami and Miami International Airport. Residents will be within walking distance of Brickell City Centre and Mary Brickell Village, with convenient access to key destinations including Wynwood, Coconut Grove, Coral Gables and Miami Beach.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.