Prosper and Versluys Close $50M Land Deal for $650M Miami Condo Tower

['Julia Echikson', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright'] Commercial Observer 2026-08-05 23:05:22

Prosper Group and Versluys Group have paid $50 million for a development site in Miami’s Brickell district, where they plan to build a $650 million condo tower, the joint venture announced. The joint venture plans to develop a 60-story waterfront high-rise with 181 condos. Vaster provided a $30.5 million loan for the acquisition, which has been under contract for at least eight months. The sellers, developers Two Roads Development and Newgard Development Group, are currently building another luxury complex on a neighboring lot at 99 Southwest Seventh Street. The Brickell project marks the first U.S. endeavor for Belgian developer Versluys Group, which was founded in 1908.