Cain and Kushner Launch JV for 40 Story Edgewater Rental Tower in Miami

• Cain and Kushner Companies formed a new JV targeting South Florida development
• First project is a 40-story, 364-unit luxury rental tower in Edgewater
• Project is backed by a $42 million loan with construction set for next year

What the JV means for South Florida development

A new institutional partnership is entering the Miami market as Cain and Kushner Companies launch a joint venture focused on residential and mixed-use projects. Their first deal is a planned 40-story apartment tower in Edgewater, signaling long-term confidence in the region. The partnership combines global capital with local development experience, positioning the group to scale across South Florida’s tri-county market.

What the project means for the rental pipeline

The planned development will deliver 364 units on a 1.5-acre site near the Missoni Baia tower. The project is currently in pre-development, with construction expected to begin late next year. Despite a recent surge in supply that has softened rents, developers like Cain and Kushner are betting that demand will catch up by the time new projects deliver.

What the capital stack says about investor confidence

The project is backed by a $42 million loan from BDT & MSD Partners, showing continued lender support for well-capitalized sponsors. This type of early-stage financing reflects confidence in both the developers and the long-term fundamentals of the Miami rental market.

What this means for developers and landlords

The timing of this project is notable. South Florida has seen record apartment deliveries, leading to slower lease-ups and increased concessions. Still, Jonathan Goldstein emphasized confidence in the market, stating, We are big believers in South Florida and big believers in Miami. For landlords, this signals continued competition ahead, particularly in the luxury rental segment where most new supply is concentrated.

What to watch as construction approaches

As the project moves toward groundbreaking, key factors will include absorption trends, rent growth, and broader migration patterns into South Florida. If demand rebounds as expected, Cain and Kushner’s entry into the market could position them well for long-term growth.