Dive Brief:

• Global real estate investment manager Cain and New York City-based apartment owner, developer and operator Kushner have formed a new joint venture focused on residential and mixed-use investment and development opportunities in South Florida, according to a press release shared with Multifamily Dive.
• The venture will launch with the development of a luxury residential tower in Edgewater, Miami. Kushner will join as a partner to build a 364-unit project at Cain’s 1.5-acre site. Construction of the project, which is currently in pre-development, will commence late in 2027, according to the release. An affiliate of MSD Partners has provided a $42 million loan for the project.
• Cain, led by Jonathan Goldstein, has been active in South Florida since 2016 with residential, office and hospitality projects. The firm’s projects include 830 Brickell, two luxury condominium developments and the forthcoming reopening of Delano Miami Beach. It also holds investments in Fort Lauderdale and Palm Beach. 

Dive Insight:

The South Florida market “continues to present compelling growth opportunities,” said Goldstein, co-founder and CEO of Cain, in the press release. “We’ve benefited from strong partnerships across the region and are delighted to expand that network with Kushner,” he said.

Kushner, led by Laurent Morali and Nicole Kushner Meyer, has established a broad national real estate platform across residential, commercial, retail and hospitality. With experience in multifamily and mixed-use development, the firm continues to scale its footprint in South Florida, with completed projects in Edgewater and Wynwood and several others in the pipeline, per the release. 

“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,” Morali, CEO of Kushner, said in the release. 

However, Kushner is still more associated with New Jersey and the Northeast than with its more than four decades in business, after being founded by Charles Kushner.

The firm has remained active in the region. Last year, it began construction on the 280-unit Livana Livingston in Livingston, New Jersey. The project encompasses two rental buildings — one designed for residents aged 55 and older and the other for residents of all ages. Located on the site of a former Kushner-owned hotel, the property, slated for completion in 2027, will include 56 affordable units blended across both buildings.

In 2024, Kushner launched the Livana brand to meet the demand for “sophisticated rental options and an aspirational lifestyle,” according to a company release. Defining features of the properties include amenities focused on health and wellness, and design curated to match the local surroundings. The firm built Livana Colts Neck in New Jersey as part of that offering.

Kushner has also faced challenges over the years. In 2024, the Maryland Supreme Court ruled in favor of five former tenants of properties owned and operated by Westminster Management, a real estate company owned by Kushner Cos. The tenants were seeking a class-action lawsuit against the company for illegal late fees, among other issues.

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