April 8, 2020
Starwood Capital Group secured a $76.16 million construction loan to build its 144,430-square-foot headquarters facility in Miami Beach. The loan was provided by Citizens Bank NA to North Bay Owner LLC, an affiliate of Starwood Capital Group, which relocated its HQ from Connecticut to Miami Beach in 2018.
The 41,325-square-foot site at 2340 Collins Ave. is envisioned for a six-story building. Starwood Capital commenced demolition and site work on the project late last year. The facility is expected to deliver timed to its existing lease expiration at 1601 Washington Ave. in 2021.
The Gensler-designed project has roughly 8,000-square-feet of ground-floor retail space and a pedestrian paseo. An internal breezeway is located on the third floor, with two floors of balconies cantilevering over the breezeway.
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