GlobeNewswire

JDS Development Group Secures $137 Million Construction Financing From Madison Realty Capital for Distinctive Miami Beach Condominium Monad Terrace

Dela

New York-based Madison Realty Capital Provides Final Funding for Pritzker Prize-Winner Jean Nouvel's First Built Work in Miami

MIAMI , April 24, 2018 (GLOBE NEWSWIRE) -- New York-based Madison Realty Capital has provided a $137 million construction loan to New York-based JDS Development Group for Monad Terrace. The deal indicates conviction in the development team, the high-design product by Pritzker Prize-winning architect Jean Nouvel and the South Beach market's extremely limited new development inventory and viability. The financing will fully capitalize the project, which features 59 individually-designed waterfront residences.

"This is a unique assemblage of land within a prime waterfront residential enclave in South Beach, Miami and we are excited to close another transaction with an esteemed developer like Michael Stern," said Josh Zegen, Co-Founder and Managing Principal of MRC. "In addition, there's virtually no new development product coming out of the ground in South Beach right now, so we offered a customized financing solution for JDS's needs given our knowledge of the market. It was a special opportunity to support an A-team in one of the most attractive markets for real estate."

"Securing this loan demonstrates the strength of the project, the attractiveness of the Miami Beach market and the overall demand for luxury housing in Miami," said Michael Stern, Founder and Managing Partner of JDS Development. "Monad Terrace serves as a landmark for thoughtful and innovative development that is also beautiful and has a strong architectural identity. This product is like nothing else in Miami Beach, which the MRC team recognized. It was a pleasure to work with them on this, they provided a swift and professional execution."

As further proof, sales at Monad Terrace are averaging almost $2,000 P/PSF, and a penthouse unit is under contract for $2,700 per foot, a record for the neighborhood.

"There is already sales momentum, and we expect this will continue on a steady upward trajectory until sell-out," said Jay Phillip Parker, CEO of Douglas Elliman Florida.

Monad Terrace offers residences ranging from two- to five-bedrooms touting 1,453 to 5,350 square feet of interior space. Buyers are privy to luxe appointments and features including private elevator access, custom kitchens and bathrooms by Jean Nouvel and sprawling outdoor terraces. The building offers a true indoor-outdoor living experience, featuring climbing gardens and reflecting pools that complement the property's central lagoon and ocean views.

Perhaps one of the most stand-out aspects is how the project fuses environmental responsibility with innovative climate resilience features into the architecture, starting by elevating the building 11.5 feet, well over Miami Beach standards.

Construction is underway, with the foundation nearly complete. The tower is expected to go vertical in Spring 2018 and estimated to complete in Fall 2019. The project was designed in collaboration with Miami-based Kobi Karp Architecture and Interior Design, Inc.

JDS was represented by Douglas B. Heitner, Erik Nygaard, and Albert J. Delgado of Kasowitz Benson Torres LLP. Madison Realty Capital was represented by Jerold C. Feuerstein of  Kriss & Feuerstein LLP. The financing was placed by a JLL team led by Aaron Appel.

Sales and marketing for Monad Terrace is managed exclusively by Douglas Elliman Development Marketing.

For more information, please see monadterrace.miami or visit the sales gallery at 1400 Alton Road, Miami Beach.

About Madison Realty Capital (MRC)
MRC is a New York-based real estate investment firm that pursues real estate equity and debt investments in the middle market.  Founded in 2004, MRC has invested in approximately $7 billion of transactions in the multifamily, retail, office, industrial and hotel sectors.

About JDS Development Group
JDS Development Group is a real estate development, construction, and acquisition firm raising the bar of residential, hospitality, and mixed-use projects in New York City and Miami. JDS has more than nine million square feet of property in various stages of development, including the record-setting Walker Tower and Stella Tower, the American Copper Buildings, 111 West 57th Street and The Fitzroy, JDS's goal is to redefine what it means to be a real estate developer in the twenty-first century. The firm is dedicated to pushing design boundaries and aligning incentives to leave the urban landscape better served by its buildings. Visit: www.jdsdevelopment.com.

Media inquiries, contact
Zakarin Martinez Public Relations: (305) 372-2502
Jenna D'Aniello - jenna@zm-pr.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Madison Realty Capital via Globenewswire

Om

GlobeNewswire



Följ GlobeNewswire

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från GlobeNewswire

Immunicum AB (publ) Announces Upcoming Investor Events in January22.1.2019 08:30Pressmeddelande

Press Release 22 January 2019 Immunicum AB (publ) Announces Upcoming Investor Events in January Immunicum AB (publ; IMMU.ST) announced today that Carlos de Sousa, CEO of Immunicum, and other members of the management team will present at upcoming investor conferences in January. Biomed Investor Event by Invest Securities Date: January 22, 2019 Venue: Les Salons Hoche, 9 Avenue Hoche, Paris, France Redeye Fight Cancer Seminar Date: January 22, 2019 Presentation Time: 11.15 am CET Panel: 11.25 am CET Venue: Master Samuelsgatan 42, Stockholm, Sweden Aktiespararna - Stora Aktiedagen Date: January 29, 2019 Presentation Time: 8.30 - 9.00 am CET Panel: "Samtal om cancerbekämpning", 10:50 am CET Venue: Medicon Village, Scheelevägen 2, Lund, Sweden For more information, please contact: Carlos de Sousa, CEO, Immunicum Telephone: +46 (0) 31 41 50 52 E-mail: info@immunicum.com Michaela Gertz, CFO, Immunicum Telephone: +46 70 926 17 75 E-mail: ir@immunicum.com Media Relations Gretchen Schweitzer an

Immunicum AB (publ) meddelar idag kommande presentationstillfällen under januari22.1.2019 08:30Pressmeddelande

Pressmeddelande 22 januari 2019 Immunicum AB (publ) meddelar idag kommande presentationstillfällen under januari Immunicum AB (publ; IMMU.ST) meddelar idag att Immunicums VD, Carlos de Sousa och andra medlemmar av ledningsgruppen kommer presentera vid följande investerarevent under januari. Biomed Investor Event by Invest Securities Datum: 22 januari 2019 Plats: Les Salons Hoche, 9 Avenue Hoche, Paris, France RedEye Fight Cancer Seminar Datum: 22 januari 2019 Presentationstid: 11.15 am CET Panel: 11.25 am CET Plats: Master Samuelsgatan 42, Stockholm, Sweden Aktiespararna - Stora Aktiedagen Datum: 29 januari 2019 Presentationstid: 8.30 - 9.00 am CET Panel: "Samtal om cancerbekämpning", 10:50 am CET Plats: Medicon Village, Scheelevägen 2, Lund, Sweden För ytterligare information kontakta: Carlos de Sousa, VD, Immunicum Telefon: +46 (0) 31 41 50 52 E-post: info@immunicum.com Michaela Gertz, Finanschef, Immunicum Telefon: +46 (0) 70 926 17 75 E-post: ir@immunicum.com Media Relations Gretch

Immunicum AB (publ) meddelar att resultaten från den kliniska fas I/II-studien med ilixadencel vid långt framskriden levercancer publicerats i Frontiers in Oncology21.1.2019 08:30Pressmeddelande

Pressmeddelande 21 januari 2019 Immunicum AB (publ) meddelar att resultaten från den kliniska fas I/II-studien med ilixadencel vid långt framskriden levercancer publicerats i Frontiers in Oncology Immunicum AB (publ; IMMU.ST) meddelar idag att den slutliga analysen av data från den undersökande kliniska studien med ilixadencel hos patienter med långt framskriden levercancer har publicerats i tidskriften, Frontiers in Oncology . Dessa data bekräftar de tidigare meddelade positiva egenskaperna gällande säkerhet och tolerabilitet för ilixadencel, både när det ges som enda behandling och i kombination med första linjens standardbehandling, sorafenib. Dessutom påvisades ökade nivåer av tumörspecifika CD8+ T-celler i cirkulerande blod för en majoritet av de utvärderbara patienterna, vilket indikerar ett systemiskt immunologiskt svar. De fullständiga resultaten ger ytterligare insikter om ilixadencels verkningsmekanism, tecken på klinisk effekt samt viktig information som kommer att vara vägl

Immunicum AB (publ) Announces Publication of Phase I/II Clinical Trial Results of Ilixadencel in Advanced Hepatocellular Carcinoma in Frontiers in Oncology21.1.2019 08:30Pressmeddelande

Press Release 21 January 2019 Immunicum AB (publ) Announces Publication of Phase I/II Clinical Trial Results of Ilixadencel in Advanced Hepatocellular Carcinoma in Frontiers in Oncology Immunicum AB (publ; IMMU.ST) announced today that the final data analysis from the exploratory clinical study of ilixadencel in patients with advanced hepatocellular carcinoma (HCC) has been published in the journal, Frontiers in Oncology . The data confirms previously communicated positive safety and tolerability of ilixadencel when administered both alone and in combination with current first-line standard of care, sorafenib. In addition, the data demonstrate an increased frequency of tumor-specific CD8+ T cells in circulating blood for a majority of evaluable patients, indicating a systemic immune response. The complete results provide further insight on ilixadencel's mode of action, signs of clinical activity and important information that will guide the next stage of clinical development. As commun

Karolinska Development's portfolio company Modus Therapeutics completes enrollment in Phase II study with sevuparin7.1.2019 12:00Pressmeddelande

STOCKHOLM, January 7, 2019. Karolinska Development's portfolio company Modus Therapeutics announces that the patient enrollment has been completed in the Phase II study with sevuparin in patients with sickle cell disease (SCD). The results from the study is expected in mid 2019. Modus Therapeutic's randomized, double blind study contains 140 SCD-patients with Acute Vaso Occlusive Crisis (VOC). It compares intravenously administered sevuparin with placebo. The primary endpoint of the study is the demonstration of a reduced time to resolution of patient's VOC. Clincal sites across Europe and the Middle East took part in the study that was conducted in conjunction with Modus Therapeutics' co development partner Ergomed. SCD has a high unmet medical need as there are currently no approved therapies for VOCs. It is an inherited blood disorder that affects between 90,000 to 100,000 patients in the U.S. and is characterized by severely painful VOCs that lead to organ damage due to a lack of o

Karolinska Development's portfolio company Modus Therapeutics completes enrollment in Phase II study with sevuparin7.1.2019 12:00Pressmeddelande

STOCKHOLM, January 7, 2019. Karolinska Development's portfolio company Modus Therapeutics announces that the patient enrollment has been completed in the Phase II study with sevuparin in patients with sickle cell disease (SCD). The results from the study is expected in mid 2019. Modus Therapeutic's randomized, double blind study contains 140 SCD-patients with Acute Vaso Occlusive Crisis (VOC). It compares intravenously administered sevuparin with placebo. The primary endpoint of the study is the demonstration of a reduced time to resolution of patient's VOC. Clincal sites across Europe and the Middle East took part in the study that was conducted in conjunction with Modus Therapeutics' co development partner Ergomed. SCD has a high unmet medical need as there are currently no approved therapies for VOCs. It is an inherited blood disorder that affects between 90,000 to 100,000 patients in the U.S. and is characterized by severely painful VOCs that lead to organ damage due to a lack of o

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum