2200 Brickell Pays Off $77M Construction Loan as Residents Move In

• 2200 Brickell Avenue, Miami, FL: Aria Development Group, Largo and Place Projects have fully repaid the construction loan that financed the five-story luxury condominium, which is now welcoming residents.
• Bank OZK provided $77 million in senior construction financing in 2023, covering roughly half of the project's total cost.
• The development features 103 residences, a one-acre rooftop amenity deck, resort-style pool, pickleball court, quarter-mile walking track and wellness-focused amenities.

What The Developers Have Completed

Aria Development Group, Largo and Place Projects have closed out the senior construction financing for 2200 Brickell as residents begin moving into the completed Brickell Avenue condominium. Bank OZK has executed a satisfaction of mortgage, formally closing the construction loan. The payoff marks the completion of a 1.7-acre residential development designed as a lower-density alternative to Brickell's high-rise condominium towers.

What The $77M Loan Financed

Bank OZK originally committed $77 million to 2200 Brickell in October 2023. The senior loan carried a floating rate of SOFR plus 4% over a 36-month term, with The Aztec Group arranging the financing. The financing represented approximately 50% of the project's total development cost. The transaction also marked another lending relationship between Bank OZK and the development partners, with their combined financing from the bank now reaching six projects.

What 2200 Brickell Offers Residents

Designed by Revuelta Architecture International with interiors by ODA New York, the five-story project features one- to four-bedroom residences and private garden villas. The development emphasizes wellness, family-oriented amenities and indoor-outdoor living. The centerpiece is a roughly one-acre rooftop amenity deck with a resort-style pool, pickleball court, outdoor recreation areas and quarter-mile walking track. Residents also have access to fitness, recovery, children's and cycling amenities.

What The Financing Payoff Signals

For the developers, repaying the construction loan as the building welcomes residents provides a clean transition from construction financing to completed residential operations. It also highlights Bank OZK's continued role in financing South Florida condominium development. The project was originally financed for 105 residences, according to earlier project materials and financing coverage. Current developer materials identify 103 residences, reflecting the final delivered project.

What Comes Next For 2200 Brickell

OneWorld Properties, led by President and CEO Peggy Olin, is handling exclusive sales and marketing, with the final collection of residences now available. The completed project adds a boutique luxury residential option to South Brickell while the development team moves beyond construction financing.