Focus, Group Fox Score $250M Construction Loan for Brickell Starlite

Focus and Group Fox scored a $250 million construction loan for their planned multifamily tower Brickell Starlite.

Affinius Capital provided the financing for the project slated for the site of the former Starlite Motel at 128 Southwest Seventh Street in Miami’s Brickell neighborhood.

The 39-story tower is set to have 517 apartments ranging between studios and three bedrooms, and 8,000 square feet of retail on the ground floor. Five percent of the tower has been set aside for workforce housing, and amenities will include a pool, fitness center, co-working space and dog spa.

It is part of the Rapid Transit Metromover subzone area, a designation that allows for increased density.

San Antonio-based Affinius is led by CEO Len O’Donnell.

Focus is led by Tim Anderson and Group Fox by Bill O’Kane, and both firms are based in Chicago. Anderson’s Focus has primarily developed in Chicagoland since its 1993 founding. In 2020, Focus sold a 111-unit apartment complex in Lake Forest, Illinois, for $54 million.

Focus bought the nearly 1-acre site for $28 million in 2022, marking its first project outside of Illinois. Anderson is also planning a 22-story, 335-unit apartment building in St. Petersburg, set to be completed in 2028, according to Focus’ website.

Brickell has emerged as a magnet for developers across asset classes in a booming South Florida market, and lenders are backing the boom.

OKO Group and Cain International landed $630 million in refinancing earlier this month for their 830 Brickell office tower. In November, 13th Floor and Key International launched a Nobu-branded 74-story, 300-unit condo tower. Also in November, Ytech scored a $565 million construction loan for its 70-story, 195-unit Brickell condo tower, the Residences at 1428 Brickell.

Billionaire Steve Ross’ Related Ross scored the biggest construction loan in South Florida last week. Ares Real Estate led the $772 million funding for redevelopment of part of the CityPlace mixed-use retail complex in downtown West Palm Beach.