Development and Financing for $3 Billion Miami Worldcenter Project
Paramount Miami Worldcenter
Representation of Paramount Miami Worldcenter in all facets of the development of a 564-unit residential tower and six-acre amenity deck, which is the $650 million centerpiece of the $3 billion Miami Worldcenter. The team represents Paramount Miami Worldcenter in its acquisition of land and air rights, development agreements, and all other agreements related to the complicated, mixed-used nature of the 28-acre Miami Worldcenter development. Representation included obtaining a $170 million construction loan and two mezzanine loans totaling $150 million. One of the mezzanine loans included EB-5 financing. Work on these loans took over eight months and began even before the land purchase was finalized.
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