Cain and Kushner Form Joint Venture for 364-Unit Multifamily Tower in Miami's Edgewater
Global real estate investment manager Cain and New York-based owner, developer, and operator Kushner have announced the formation of a joint venture targeting residential and mixed-use investment and development opportunities in South Florida, the firms announced April 23, 2026.
The partnership will launch with the development of a luxury residential tower on Cain's 1.5-acre site in Miami's Edgewater neighborhood. The project is expected to include approximately 364 units and is currently in pre-development, with construction scheduled to commence in late 2027.
Financing and Deal Structure
BDT & MSD Partners, through its affiliated funds, has provided a $42 million loan to support the project. Walker & Dunlop Capital Markets Institutional Advisory arranged the financing on behalf of Cain. The Walker & Dunlop team was led by Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, and Sean Bastian.
No additional terms of the loan, including loan term, interest rate, or loan-to-value ratio, were disclosed.
Firm Backgrounds and South Florida Track Records
Cain, led by Co-founder and CEO Jonathan Goldstein, has been active in South Florida since 2016 and has built a presence across residential, office, and hospitality real estate in the region. The firm's South Florida portfolio includes 830 Brickell, two luxury condominium developments, and investments in Fort Lauderdale and Palm Beach. Cain also holds an interest in the forthcoming reopening of Delano Miami Beach.
Kushner, led by CEO Laurent Morali and Nicole Kushner Meyer, manages a national real estate platform spanning residential, commercial, retail, and hospitality. The firm has completed development projects in Edgewater and Wynwood and has additional projects in the pipeline across South Florida.
Executive Commentary
"We've been investing in South Florida for nearly a decade and have long been confident in the market, which we believe continues to present compelling growth opportunities," said Jonathan Goldstein, Co-founder and CEO of Cain. "We've benefited from strong partnerships across the region and are delighted to expand that network with Kushner as we continue to grow our presence in South Florida."
"Kushner has built a strong track record in South Florida, with successful projects across Edgewater and Wynwood," said Laurent Morali, CEO of Kushner. "This partnership with Cain is a natural extension of that momentum, bringing together two firms that know this market well and are committed to delivering more high-quality residential developments."
The $42 million loan from BDT & MSD Partners represents the initial disclosed capital commitment for a project that remains in pre-development. Additional project details, including total capitalization, unit mix, and design specifications, were not disclosed at the time of announcement.