Developer Secured $19.5 Million for Miami Beach Project
Trinity Southern has tapped a construction loan to advance its luxury condo development in Miami Beach.
Updated on Oct. 12, 2026 in Construction
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Trinity Southern secured a $19.5 million construction loan from S3 Capital for the 29 Indian Creek condo project. The development, currently 25 percent complete, reached a significant presales milestone of 70 percent.
Why it matters
Securing construction financing despite prior legal challenges reflects continued lender confidence in the luxury Miami Beach real estate market. High presales figures suggest strong buyer demand for the site, which offers 16 residential units.
The $19.5 million construction loan supports a 16-unit development where presales have already surpassed 70 percent. Units at the 0.3-acre site range from $1.5 million to over $8 million in price.
The players
Trinity Southern
A real estate development firm focused on high-end residential projects.
S3 Capital
A private lending firm specializing in construction and real estate bridge financing.
Jason Halpern
A real estate developer involved in the transfer of the Indian Creek project site.
CBRE
A global commercial real estate services and investment firm.
The details
The financing for 2901 Indian Creek Drive was arranged by CBRE's AJ Bruno and Drew Anderman. Construction is currently 25 percent finished, with the final build set to feature 14 condos and two townhomes. Ownership of the site was transferred for $8 million as part of the project's capitalization process.
Timeline
2017: The 0.3-acre site was sold for $7.8 million.
2022: A New York judge dismissed a lawsuit involving the property.
March 2025: Sales for the development officially launched.
September 2025: Trinity Southern bought into the project.
2027: The project is expected to reach completion.
Market Landscape
This development marks a significant move forward for the 2901 Indian Creek site following a 2022 New York court ruling that dismissed previous litigation. The financing signals a transition from legal dispute to active construction for this luxury asset.
Developers should note that reaching a 70 percent presales threshold remains a critical metric for securing construction debt in the current climate. Operators should monitor this project's 2027 completion date as a benchmark for local luxury inventory delivery.
The takeaway
Strong early-stage sales figures continue to be the primary driver for obtaining construction financing for boutique luxury projects. Keep a close watch on your own project's absorption rates to signal readiness to lenders when seeking future capital commitments.
Further reading
For more on local development trends, visit Construction.
Source note: This article includes information reported by The Real Deal New York.
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