Marc Roberts, Ryan Shear and Michael Simkins Retire $165M Loan at E11EVEN Residences

• Marc Roberts, Michael Simkins, and Ryan Shear have fully retired the $165 million construction loan Starwood Property Trust originated for E11EVEN Club Hotel & Residences in February 2022.
• The 65-story, 456-unit tower at 20 NE 11th Street in Downtown Miami's Park West neighborhood posted more than $1 billion in sales.
• Tower one topped off in early 2025 and is tracking toward a 2026 delivery.
• The payoff clears the capital stack on phase one as construction advances on a second tower and the broader District 11 master plan takes shape.

What Was Paid Off

The development team behind E11EVEN Club Hotel & Residences has fully repaid a $165 million loan originally issued by Starwood Property Trust. The financing helped fund the first phase of E11EVEN Hotel & Residences, a 65-story luxury condominium and hospitality tower located in Downtown Miami's District 11. The repayment represents a significant financial milestone for the project and reflects the strong performance of the development since launch. The project quickly emerged as one of South Florida's top-selling residential towers.

Who Is Behind the Development

The partnership is led by Marc Roberts, Michael Simkins, and Ryan Shear through E11EVEN Partners in collaboration with PMG. Together, the group has spearheaded the transformation of the area surrounding the E11EVEN Miami entertainment venue into one of the region's most active development corridors. Their vision extends beyond a single tower, focusing on a large-scale mixed-use district combining hospitality, entertainment, and residential uses. The development team has secured hundreds of millions of dollars in financing across multiple phases.

What Makes E11EVEN Significant

The first tower generated more than $1 billion in condominium sales shortly after launching, helping establish E11EVEN as one of the most successful branded residential projects in Miami. The development blends luxury residences with hospitality-inspired services and direct connections to the surrounding entertainment district. Its success has fueled the expansion of the broader E11EVEN-branded portfolio throughout Downtown Miami. Multiple additional towers are already underway or planned.

What District 11 Includes

The long-term vision for District 11 centers on creating a 24-hour destination that integrates luxury living, nightlife, hospitality, dining, and entertainment. The master-planned district is expected to include thousands of residential units and generate billions of dollars in total sellout value upon completion. The area has become one of Miami's fastest-growing urban neighborhoods as new development continues to reshape the downtown skyline. Developers believe District 11 will become a defining destination within the city's urban core.

What This Means for Downtown Miami

The loan payoff highlights the continued strength of Miami's luxury condominium market and demonstrates investor confidence in large-scale mixed-use developments. As construction advances on future phases, E11EVEN and District 11 continue attracting capital, residents, and businesses to Downtown Miami. The project's success reinforces the city's position as one of the nation's most active development markets and signals continued momentum for transformative urban redevelopment.