700 North Miami Avenue lands $302.6M financing for major Miami Worldcenter phase one development. Home " Buildings " Residentials/apartments " 700 North Miami Avenue lands $302.6M financing for major Miami Worldcenter phase one development. Published on Jul 21, 2026 Discover more renewable energy Politics (Right) Discover more Dictionaries & Encyclopedias construction industry Construction on the initial phase of 700 North Miami Avenue in Miami Worldcenter is officially set to start following a $302.6 million construction loan secured by developer Witkoff in partnership with Monroe Capital. Designed by Kobi Karp Architecture, the proposed three-tower residential complex occupies one of the last major undeveloped parcels in the district. The project originally went before the City of Miami's Urban Development Review Board in early 2023. Also, this project alongside others such as Aman Residences showcase Miami as a leading real estate and property investment hub in the US. Project funding. The funding was backed by J.P. Morgan Chase alongside Apollo Global Management affiliate Athene Annuity and Life Company. By refinancing roughly $57.3 million in pre-existing debt, the deal raised the total loan to $302.6 million, generating about $245.3 million in new construction capital. Discover more Urban & Regional Planning Project Management The project's first phase features a tower rising approximately 600 feet, which will house 894 residential units. The design also incorporates 17,367 square feet of ground-floor retail and a nine-level, 167,237-square-foot parking garage with several vehicular access points. In total, the full master plan envisions three residential towers reaching 50, 51, and 53 stories. Across the entire development, plans call for 2,346 residential units, around 30,535 square feet of commercial space, and 2,078 parking spots. The newly announced financing specifically supports phase one. This funding milestone comes as permitting advances through the City of Miami. While the master building permit and a phased vertical construction permit are currently under review, site preparation has already been granted approval. Construction costs are estimated at nearly $270 million according to the master permit, with Coastal Construction serving as the general contractor. Spanning nearly five acres, the site previously housed the Miami Arena. Opened in 1988, the arena served as the original home court for the Miami Heat and hosted various sports events and concerts until its closure and 2008 demolition. The land was later designated for the Marriott Marquis Miami Worldcenter Hotel & Expo Center, though that plan was eventually abandoned. Witkoff and Monroe Capital purchased the property for $94 million in 2021, setting the stage for the current residential build out. Located within easy walking distance of Brightline's MiamiCentral Station and other regional transit routes, the site represents one of the final premier development sites in the area to move into active construction. Project factsheet. Project Name: 700 North Miami Avenue Location: Miami Worldcenter, Downtown Miami, FL Site Area: 5 acres (4.7 acres) Developer: Witkoff Group & Monroe Capital Architect: Kobi Karp Architecture and Interior Design General Contractor: Coastal Construction Initial Proposal Date: Urban Development Review Board (UDRB) - Early 2023 Current Status: Site preparation approved; master and vertical permits under review; financing secured Phase 1 Specifications * Tower Height: 600 feet * Residential Units: 894 units * Retail Space: 17,367 sq. ft. (ground floor) * Parking Structure: 9-story garage encompassing 167,237 sq. ft. * Estimated Construction Cost: $270 million (per master permit) Overall Master Plan (All 3 Phases) * Number of Towers: 3 residential towers (50, 51, and 53 stories) * Total Residential Units: 2,346 units * Overall Commercial Space: 30,535 sq. ft. * Total Parking Spaces: 2,078 spaces Financial Breakdown * Total Construction Loan: $302.6 million * New Construction Capital: $245.3 million * Refinanced Existing Debt: $57.3 million * Lenders: J.P. Morgan Chase and Athene Annuity and Life Company (Apollo Global Management affiliate) * Land Acquisition Price: $94 million (2021) Site History and Transit Access * Former Land Use: Site of the former Miami Arena (1988-2008; former home of the Miami Heat). * Previous Plans: Formerly slated for the cancelled Marriott Marquis Miami Worldcenter Hotel and Expo Center. * Transit Proximity: Short walking distance to Brightline's MiamiCentral Station and regional transit hubs. Project team. Co-Developers: Witkoff Group and Monroe Capital Design Architect: Kobi Karp Architecture and Interior Design General Contractor: Coastal Construction Landscape Architect: Kimley-Horn Construction Lenders: J.P. Morgan Chase and Athene Annuity and Life Company (Apollo Global Management affiliate)

Monroe Capital and AIP Capital successfully close inaugural $643.0 million aircraft asset-backed securitization. CHICAGO-(BUSINESS WIRE)-Monroe Capital LLC ("Monroe"), a premier asset management firm specializing in private credit markets, and AIP Capital ("AIP"), a global multi-strategy investment manager focused on opportunities in asset-based finance, today announced the successful closing of MCAV 2026-1 ("MC Aviation"), a $643.0 million aircraft asset-backed securitization and the inaugural transaction issued through the firms' aviation leasing venture. MCAV 2026-1 is secured by a diversified portfolio of 18 commercial aircraft leased to 12 airline operators across 10 jurisdictions with an aggregate appraised value of approximately $739 million. The transaction represents a significant milestone for the Monroe-AIP aviation leasing venture, launched in 2025 to build a diversified global aircraft leasing portfolio combining Monroe's investment capabilities with AIP's aviation asset management and servicing expertise. The transaction included approximately $547.0 million of Class A Notes, $66.5 million of Class B Notes, and $29.6 million of Class C Notes and achieved ratings from Moody's, KBRA, and DBRS Morningstar. The transaction was supported by a diverse group of institutional investors and marks the first issuance from the MC Aviation platform. "The successful closing of MCAV 2026-1 marks an important milestone for Monroe's Alternative Credit Solutions platform and reflects the strength of our asset-backed finance capabilities. We are grateful for the support of our investors and financing partners and look forward to continuing to build upon the foundation established through this transaction," said Aaron Peck, Managing Director & Co-Head, Alternative Credit Solutions at Monroe. "This transaction reflects the quality of the portfolio assembled through our partnership with AIP and our disciplined approach to aviation investing," said Aaron Levy, Managing Director, Alternative Credit Solutions at Monroe. "We believe commercial aviation continues to offer compelling investment opportunities supported by strong asset fundamentals, favorable supply-demand dynamics, and the continued growth of global air travel. The successful execution of this inaugural securitization highlights the strength of the platform." "We are proud to partner with Monroe on the successful closing of MCAV 2026-1," said Jared Ailstock, Managing Partner of AIP. "The transaction reflects the quality and diversification of the underlying portfolio as well as the strength of our partnership. By combining Monroe's asset-backed finance capabilities with AIP's aviation asset management and servicing expertise, we have created a platform that is well-positioned to capitalize on attractive opportunities across the global aviation market." The portfolio is comprised of a diversified mix of commercial aircraft, including predominantly narrow-body aircraft leased to airlines across Europe, Asia, the Middle East, Africa and Latin America. The portfolio has a weighted average aircraft age of approximately 5.6 years and a weighted average remaining lease term of approximately 6.9 years. AIP Capital will continue to act as servicer for the platform. Deutsche Bank Securities Inc., BNP Paribas Securities Corp. and Fifth Third Securities, Inc. acted as Co-Structuring Agents and Joint Lead Bookrunners. Citigroup Global Markets Inc. acted as Joint Lead Bookrunner, with Natixis Securities Americas LLC and BMO Capital Markets Corp. serving as Bookrunners and KeyBanc Capital Markets Inc. acting as Co-Manager. This transaction is representative of Monroe's Specialty Finance division within the Alternative Credit Solutions Group. The group focuses on asset-backed finance (ABF) and complex, special-situation structured debt and equity financings across a broad range of asset types and geographies. Key areas of focus include specialty finance opportunities, such as royalty finance, consumer finance, litigation finance, fund finance, and commercial finance, as well as hard-asset strategies including real estate, digital infrastructure, aircraft finance, and equipment finance. Monroe's dedicated team operates with a broad investment mandate and flexible capital base, distinguishing itself through both its deep, bottom-up underwriting expertise and its ability to execute complex transactions quickly and efficiently. For more than 20 years, Monroe has invested in asset-backed opportunities supported by attractive collateral, while also providing cash flow and enterprise value-based financing solutions. About Monroe Capital Monroe Capital LLC ("Monroe") is a premier asset management firm specializing in private credit markets across various strategies, including direct lending, technology finance, venture debt, alternative credit solutions, structured credit, real estate and equity. Since 2004, the firm has been successfully providing capital solutions to clients in the U.S. and Canada. Monroe prides itself on being a value-added and user-friendly partner to business owners, management, and both private equity and independent sponsors. Monroe's platform offers a wide variety of investment products for both institutional and high net worth investors with a focus on generating high quality "alpha" returns irrespective of business or economic cycles. The firm is headquartered in Chicago and has 13 locations throughout the United States, Asia, Australia, Europe, and Middle East. Monroe has been recognized by both its peers and investors with various awards including GrowthCap Advisory's 2025 Top Private Credit Firm List; Inc.'s 2025 Founder-Friendly Investors List; DealCatalyst as the 2025 Most Innovative Private Credit CLO Manager and Boutique Private Credit CLO Manager of the Year; Private Debt Investor as the 2025 CLO Manager of the Year, Americas; Global M&A Network as the 2025 Lower Mid-Markets Lender of the Year, U.S.A; Korean Economic Daily as the 2025 Best Asset Manager of the Year, Private Debt Mid-Cap; Creditflux as the 2021 Best U.S. Direct Lending Fund; and Pension Bridge as the 2020 Private Credit Strategy of the Year. For more information and important disclaimers, please visit www.monroecap.com. About AIP Capital AIP Capital (AIP) is a global alternative investment manager focused on opportunities in asset-based finance including aviation and equipment finance. AIP, together with its affiliates, manages approximately $7.5 billion of assets on behalf of a diversified global investor base. The AIP team is comprised of over 70 experienced professionals across AIP's offices in Stamford, New York City, Dublin, Singapore, Seoul & Tokyo. For more information and important disclaimers, please visit www.aipcapital.com.

AIP Capital and Monroe Capital close US$643 million aircraft ABS. AIP Capital and Monroe Capital have completed their inaugural aircraft asset-backed securitization, raising US$643 million through the MC Aviation 2026-1 (MCAV 2026-1) transaction to support their aircraft leasing joint venture. The financing is backed by a portfolio of 18 commercial passenger aircraft leased to 12 airlines across 10 jurisdictions. The portfolio has a weighted average aircraft age of 5.6 years and an average remaining lease term of approximately 6.9 years. Next-generation aircraft account for 71% of the portfolio, while narrowbody aircraft represent 81%. The transaction includes US$547.0 million of Class A notes, US$66.5 million of Class B notes and US$29.6 million of retained Class C notes. The Class A notes are rated A by DBRS Morningstar and Kroll Bond Rating Agency, and A2 by Moody's Investors Service, while the Class B notes are rated BBB and the retained Class C notes are rated BB. Jared Ailstock, Managing Partner of AIP Capital, said: "We are pleased by the strong investor interest in this transaction, which we believe speaks to confidence in AIP's expertise and capabilities in the aircraft leasing sector and our strategic partnership with Monroe Capital. The transaction is foundational to the investment program we've developed with Monroe and look forward to becoming a long-term programmatic issuer in the aircraft ABS market." AIP Capital will serve as transaction servicer, with Deutsche Bank Securities, BNP Paribas, Fifth Third Securities and Citigroup among the lead arrangers and bookrunners.