Aria Development Group, Largo and Place Projects have repaid the $77 million construction loan that financed 2200 Brickell, closing out the senior debt on the recently completed condominium at 2200 Brickell Avenue in Miami’s Brickell neighborhood.
The repayment marks a key financial milestone for the five-story, 103-residence project as move-ins continue at the property. The developers said Bank OZK executed a satisfaction of mortgage after the loan was paid off, ending a financing package that was arranged by The Aztec Group and originated in 2023.
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2200 Brickell stands out in a corridor dominated by high-rise towers because it takes a lower-rise approach, pairing boutique-scale planning with a large rooftop amenity program. The project was designed by Revuelta Architecture International, with interiors by ODA, and is now transitioning fully from construction and delivery into residential occupancy.
| Project Detail | Information |
|---|---|
| Project | 2200 Brickell |
| Location | 2200 Brickell Avenue, Miami |
| Developers | Aria Development Group, Largo, and Place Projects |
| Lender | Bank OZK |
| Construction Loan | $77 million |
| Residential Count | 103 residences |
| Architecture | Revuelta Architecture International |
| Interior Design | ODA |
| Sales and Marketing | OneWorld Properties |
Loan Repayment Follows Completion and Resident Move-Ins
According to the developers, the loan payoff was announced Oct. 6 and came after the building had already reached the delivery stage. Bank OZK committed the senior construction financing in October 2023, covering roughly half of the project’s total cost under a 36-month term, with interest tied to SOFR plus 4.00 percent.
The façade and public-facing areas of the building are now complete, and residents are moving in as the final sales push continues. OneWorld Properties, led by president and CEO Peggy Olin, is handling exclusive sales and marketing for the remaining residences.
Aria founding partner and president David Arditi said the repayment is especially meaningful because it happened as buyers began occupying the building. Arditi also noted that the financing represented Aria’s fourth construction loan with Bank OZK, while Largo and Place Projects have also used the lender on other developments, bringing the firms’ combined number of loans with Bank OZK to six.
A Lower-Rise Condominium in the Heart of Brickell
Located in the southern portion of Brickell, 2200 Brickell was built on a 1.7-acre site and was positioned as a more intimate alternative to the area’s high-rise condominium inventory. The project comprises 103 residences in a five-story building, a scale that is uncommon for Brickell, where most new residential development rises much higher.
The project’s design centers on a one-acre rooftop amenity deck, one of its defining features. That roof level includes a resort-style pool, a pickleball court, a quarter-mile walking track and outdoor recreation areas, along with indoor wellness and children’s spaces integrated into the broader building program.
The developers have emphasized the building’s amenity mix as part of its appeal to buyers seeking neighborhood access without giving up the type of shared facilities more commonly associated with larger luxury towers. The residential offering spans a range of home types, though the full unit mix has not been publicly detailed in the materials reviewed for this report.
Project Team and Financing Structure
Aria Development Group, Largo and Place Projects partnered on the development, with Bank OZK serving as the construction lender. The loan was arranged by The Aztec Group, while King & Spalding represented Bank OZK and Hunton Andrews Kurth represented the developers on the original financing, according to earlier project disclosures referenced by PROFILEmiami.
While the repayment itself is a straightforward financial event, it also serves as an indicator that the project has moved successfully through the riskier stages of development into stabilization. In South Florida real estate, the satisfaction of a construction mortgage typically signals that a project has achieved the kind of delivery and capitalization milestones lenders look for at or near completion.
The building’s marketing has also continued into the occupancy phase. OneWorld Properties has been promoting the final collection of residences, and the developers have said the project is now welcoming residents.
Why the Payoff Matters in Brickell
Brickell remains one of Miami’s most active residential markets, but most of the neighborhood’s new supply consists of larger, vertically oriented towers. A completed low-rise condominium with a sizable rooftop amenity program adds a different product type to the area, one that may appeal to buyers who want an urban address with a more residential feel.
The payoff of the Bank OZK loan also closes the financing chapter on a project that began with a 2023 construction commitment and advanced through ground-up development to completion in 2026. For lenders, developers and brokers alike, that transition from financing to occupancy is one of the clearest signs that a project has reached a successful end stage.
What Comes Next for 2200 Brickell
With the construction loan repaid and residents moving in, the remaining focus shifts to home closings, occupancy and final sales activity. The development team has not disclosed any additional financing tied to the project in the materials reviewed for this report, and no new construction phase has been announced.
For now, 2200 Brickell is moving from being a development story to becoming part of the neighborhood’s completed residential inventory. The project’s final performance will likely be measured less by construction milestones and more by how quickly its remaining homes are absorbed by the market.
