MORGAN OPENS LUXURY HIGH-RISE RESIDENTIAL TOWER IN MIDTOWN MIAMI
Houston, TX, February 21, 2018– MORGAN, a leader in upscale multifamily development, construction and property management, has opened Midtown 29, a luxury apartment high-rise in Midtown Miami. The 20-story, 309-unit tower is a joint venture between MORGAN and Mesirow Financial, with construction financing provided by Wells Fargo and project design by Stantec.
Located at 180 NE 29th Street, Midtown 29 stands at the intersection of NE 29th Street and NE 2nd Avenue surrounded by Miami's most dynamic neighborhoods -- Midtown, the Design District and the Wynwood Arts District. The site, which is situated at the entrance to 645,000-square-foot The Shops at Midtown Miami, offers quick access to major thoroughfares leading to downtown Miami, Brickell and Miami Beach.
The mixed-use Midtown 29 tower contains over 12,000 square feet of retail space on the ground floor and an adjacent six-level parking garage. Its luxury residential units range from studios to three-bedroom units, averaging 837 square feet. The seventh floor amenity deck includes a resort-style swimming pool and spa with private cabanas, an outdoor bar, grilling stations, and a fitness center with a yoga/spinning studio.
"We worked hard to differentiate Midtown 29 in the growing Midtown Miami area,” said MORGAN Regional Vice President of Development Evan Schlecker. “From the design and curated collection of artwork to the amenities, we aimed to up the ante on what’s available in the marketplace. We believe, like we do with every MORGAN project, that we have created an exciting living experience. The resident response thus far has mirrored our enthusiasm."
Alasdair Cripps, Chief Executive Officer and Co-Chief Investment Officer of Mesirow Financial's Direct Real Estate business, said, "We're excited to work with MORGAN on this luxury high rise in Midtown Miami. We know the development's accessibility, proximity to retail and residential offerings, and artistic influence from nearby Wynwood offer significant appeal to the Midtown area."
Since the 1990s, MORGAN has developed more than 4,700 multifamily units in the Florida market. In addition to delivering Midtown 29, MORGAN plans to open the 350-unit Pearl Flagler Village at the end of this year.
MORGAN is a privately held national developer and manager of Class A multifamily properties. With headquarters in Houston, TX, MORGAN specializes in upscale urban construction and third-party property management across the United States. Since 1988, MORGAN has developed over 20,000 units at a cost of $3.1 billion with a $500 million project pipeline currently in development or under construction. For more information about MORGAN, visit www.morgangroup.com.
About Mesirow Financial
Headquartered in Chicago, Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, Mesirow Financial is committed to helping institutional, corporate and individual clients achieve their objectives. Its Direct Real Estate business incorporates a diversified value-added real estate strategy with an emphasis on the U.S. multifamily sector. Over the last five years, the team has raised approximately $1.5 billion in equity and has invested in nearly 13,000 units in 22 cities nationwide. To learn more, please visit mesirowfinancial.com.
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