Summary
JEM Private Residences is a planned, 65-story luxury residential tower, which will be part of a ~27-acre, 10-block, mixed-use development, located in the Miami WorldCenter, one of the largest emerging retail, dining, and entertainment destinations in the U.S. An architectural masterpiece — crafted by the globally acclaimed architecture team at Arquitectonica — JEM will transform the skyline, while introducing an incomparable living experience to Miami.
Opportunity
Nuveen Green Capital is proud to have provided $40 million in C-PACE financing to Naftali Group to fund pre-development costs related to the development of the podium as well as work to the envelope, lighting, elevator systems, water efficiency and resiliency measures for the JEM Private Residences’ first phase of construction. NGC’s C-PACE financing will reduce the blended cost of capital for the project and provide liquidity to the sponsor during the early stages of development.
