Canyon Partners Provides Fisher Brothers $117.5 Million Senior Construction Loan to Finance Luxury Miami Multifamily Development
June 29, 2023
MIAMI – June 29, 2023 – Canyon Partners Real Estate LLC (“Canyon”) and J.P. Morgan today announced they have co-originated a $117.5 million non-recourse senior construction loan made to Fisher Brothers for the ground-up development of Wynhouse Miami, a 308-unit mixed-use residential community in Wynwood, Miami. Construction of the community commenced in June 2023 and is expected to be completed in Q1 2025.
Wynhouse Miami will rise eight stories and offer 308 rental residences, approximately 26,000 square feet of ground floor retail and paseo space and nearly 25,000 square feet of expansive indoor and outdoor amenities. Wynhouse Miami is Fisher Brothers’ latest multifamily development within its House brand, a collection of highly-amenitized, design-forward properties purpose built to fit into the contextual fabric of the neighborhood in which it resides.
“We are excited to take this important next step towards bringing Wynhouse Miami, a design-forward, leading multifamily project, to Wynwood. Wynhouse Miami meets the evolving needs of this thriving and energetic neighborhood and we are grateful to our partners for embracing our vision and bringing this development to life,” said Winston Fisher, Partner at Fisher Brothers.
Canyon has been an active provider of debt and equity in South Florida and continues to invest in real estate projects in primary and secondary markets across the United States. Since its inception, Canyon has invested $1.3 billion in debt and equity to capitalize $3.8 billion of total projects across all asset types in the state of Florida.
About Canyon Partners LLC
Founded in 1991, Canyon Partners Real Estate LLC (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with approximately $24.5 billion in assets under management. Over the last ten years, Canyon has invested approximately $5.6 billion of debt and equity capital across over 200 transactions capitalizing approximately $21.3 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 31 years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts). For more information visit: www.canyonpartners.com.
About Fisher Brothers
For more than a century, Fisher Brothers has excelled in real estate innovation, developing, owning and operating unique spaces that enable people to thrive. From cutting-edge building design to neighborhood-defining art installations, Fisher Brothers leverages each real estate asset to create one-of-a-kind spaces for people to live, work and play. Fisher Brothers currently owns and operates commercial, residential and experiential retail assets in New York City, Las Vegas, Washington, DC, Miami and Orlando. As part of its House brand – a collection of highly-amenitized, design-forward properties developed with the intent to foster community and creativity – Fisher Brothers completed House 39 in 2017 and Station House in 2015. For additional information about Fisher Brothers, please visit the company’s website at www.fisherbrothers.com.
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