Related Group and Tricap have successfully secured $141.5 million in financing for the highly anticipated NoMad Residences Wynwood, a transformative development in Miami’s vibrant Wynwood Arts District. The project received a $51.5 million mezzanine loan from Related Fund Management and a $90 million senior construction loan from Kennedy Wilson, with construction having commenced in October 2023 following a groundbreaking in September.
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Project Summary
Nick Pérez, President of Related’s Condominium Division, expressed pride in the collaboration, stating, “This significant capital infusion reflects strong investor confidence in Miami’s residential market and our unique vision for this hospitality-centric, lifestyle-driven development. We’re excited to bring a residential experience to Wynwood that blends design, culture, and community.”
Thomas Whitesell, Head of the Debt Investment Group at Kennedy Wilson, added, “We are pleased to partner with Related Fund Management to provide construction financing for this exceptional project. Related Group’s expertise in Wynwood was a key factor in our investment decision.”
Designed by Arquitectonica with interiors by DesignAgency, NoMad Residences Wynwood will feature 329 units, ranging from studios to two-bedroom apartments. Each residence will boast floor-to-ceiling windows, private balconies, and modern kitchens equipped with Bosch appliances and Italian-style cabinetry. Units will come fully furnished, with no rental restrictions, allowing owners flexibility in renting their homes.
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The development will also include several public food and beverage venues, including a rooftop restaurant and bar managed by James Beard Award winner Leo Robitschek, as well as Casa Tua Cucina on the ground floor, serving Italian and Mediterranean cuisine.
Residents will enjoy a variety of amenities, such as a rooftop lounge, pool, fitness facilities, and the NoMad Library and Lounge. The building will showcase art from the Jorge M. Pérez Collection and feature commissioned works that reflect Wynwood’s artistic community.
Sales have been robust, with over 80% of the residences already sold, and completion is anticipated for late 2025. Pricing for NoMad Residences Wynwood begins at $600,000, with Fortune Development Sales serving as the exclusive sales partner.
The nine-story tower features an eclectic contemporary design and will offer residents stunning views of downtown Miami, along with a fully-serviced pool and sun deck, private cabanas, and state-of-the-art fitness lounges. The ninth floor will feature the signature NoMad Library and Lounge for curated experiences and events.
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Nick Pérez highlighted the investor confidence in the project, emphasizing its distinct vision that aims to elevate the lifestyle experience in Wynwood.