It is not every day that a globally renowned fashion and lifestyle media brand teams up with a Miami-based real estate developer to bring a world class luxury condo to the Magic City. Real estate developer Robert Thorne, CEO of Urban Network Capital Group (UNCG), recently teamed up with Elle, in partnership with Vertical Developments, to launch Elle Residences Miami, a luxury condo combining the brand’s signature Parisian influence with Miami’s vibrant culture. Robert has nearly 20 years of experience in the Florida real estate housing market in Florida, catering to demand for condo-hotels and flexible homeownership investments, with new construction properties in Brickell and Orlando. PROFILEmiami had the exclusive opportunity to sit down with Robert Thorne, CEO of Urban Network Capital Group (UNCG) and developer of Elle Residences Miami to delve into his background, his philosophy on development, and the exciting projects he is currently working on in Florida:
PROFILEmiami (PM): What is your background? Tell us about yourself.
Robert Thorne (RT): I have nearly 20 years of experience in the U.S. real estate market, having founded the Royal Bay Group and other development companies. My professional journey spans healthcare and wellness hospitality. I’ve managed both private and publicly traded companies, serving as president. From 1990 to 2000, I was in healthcare, leading an IPO for Continuecare. I then focused on healthcare in 2011 and came back to real estate in 2017.
PM: How did you get started in real estate? Tell us about your first deal?
RT: My journey into real estate began with an opportunity from a gentleman I knew who asked me to invest with him. Together, we started developing, and our first project was a home in Key Biscayne. When it sold, this property set a record for the highest dollar per square foot in the area and was purchased by the Ambassador of Mexico. It was tremendously rewarding to create a project start to finish and I knew this was what I wanted to do with my life. Following this success, I went on to develop my second home, further solidifying my passion for real estate development and the rest is history.
PM: What is your development Philosophy?
RT: Our development philosophy centers on creating communities where families can share experiences that become lasting memories. This can be achieved while offering income-producing opportunities for investors through our condo-hotel model, by which owners place their unit in the rental pool when they are not using it, thereby allowing them the potential to earn a passive income on their investment. Whether people come to relax for a week or to conduct business, the key is to ensure that their time spent is memorable. The end-user's experience is paramount and crafting these meaningful moments and exceptional experiences is at the heart of everything we do.
Robert Thorne at the Visions Resort & Spa Groundbreaking
PM: Tell us about UNCG?
RT: Urban Network Capital Group (UNCG) is committed to developing eco-friendly and wellness-forward projects, always with an eye for quality and detail. Over the past 20 years, it has been a privilege to shape communities through innovative real estate ventures that offer unique opportunities to investors. Our distinctive approach to development, combined with our ability to think outside the box, truly gives us an edge.
A prime example of this is our latest project, ELLE Residences Miami. This development will be the first residential tower for the iconic media brand ELLE and Miami’s first residences branded by a globally renowned media and lifestyle brand. This project epitomizes our philosophy and showcases our dedication to creating exceptional living spaces.
PM: Can you tell us more about UNCG’s eco-friendly approach to development?
RT: There is so much need for environmentally conscious development and it’s a core pillar of our mission. Our company offers a healthy living environment that is eco-friendly, designed with LEED technology and solar energy. We pride ourselves on using sustainable materials and installing EV chargers at various points of all our developments as well.
Visions at Brickell Station
PM: Tell us about Visions at Brickell Station?
RT: Visions at Brickell Station is set to redefine modern homeownership in Miami’s vibrant Brickell neighborhood by focusing on holistic wellness and offering short-term rental capabilities for utmost flexibility. This innovative condo-hotel is a collaboration between Urban Network Capital Group (UNCG) and Vertical Developments, merging the best of hospitality and real estate to create a unique well-being experience.
This boutique eight-story property integrates a rich array of biohacking features within each dwelling. Recognizing the demand for practical and accessible amenities, Visions at Brickell Station incorporates in-unit technology and design that seamlessly enhance daily well-being. This commitment to wellness extends to the shared amenity spaces, which offer a variety of options to cater to guests' specific needs.
Among the standout features are the spa’s innovative therapies, such as BrainTap Therapy and IV Therapy. Guests can also enjoy exceptional shared spaces, including a rooftop pool, an on-site restaurant and bar, a state-of-the-art gym, and corporate meeting event spaces. Visions at Brickell Station is not just about luxury, it’s about providing a comprehensive wellness experience that enriches the lives of its residents and guests.
PM: The project has a biohacking space as well as a variety of wellness components, how have these set the project apart / added value?
RT: The wellness components of this project set it apart because no one else is integrating such a comprehensive array of biohacking features into dwellings and amenities to this extent. It’s not just a clinic or a spa; it’s a holistic wellness environment. People today are increasingly seeking places that enhance their wellness experience, and our project caters to this demand.
As short-term rentals become increasingly popular in Miami, these unique wellness features position Visions at Brickell Station as a unique offering that’s a cut above other accommodations in the area, adding value for buyers who seek to rent out their unit.
Elle Residences Miami
PM: What other projects do you have in the works for Miami / South Florida?
RT: UNCG is currently working on several exciting projects in Florida. In South Florida, we recently announced ELLE Residences Miami in Edgewater, which has quickly become one of the most desired neighborhoods in the city, and Visions at Brickell Station in the bustling financial district. Each of these is reflective of our development philosophy for creating unrivaled experiences and introducing projects that are unlike anything else in the market.
PM: You are also quite active in Orlando, tell us about your portfolio there.
RT: Beyond Miami, we are very enthusiastic about our developments in the greater Orlando area because we feel there is a tremendous opportunity for us to create something new and bring a fresh perspective to residential and mixed-use development that will make a positive impact on the community. One of our flagship endeavors is the $170 million Visions Resort & Spa, a multi-phase development that began construction last fall and will span 55 acres. Another exciting project is The Flats Orlando, a 160-unit wellness-focused condo-hotel located near Orlando's major attractions. Our portfolio in Orlando reflects our commitment to innovation and quality, offering unique living experiences that enhance both well-being and convenience.
Elle Residences Miami
PM: What is your perspective on the real estate market in Miami amid a changing economic environment and rising interest rates?
RT: When discussing the real estate market in Miami amid rising interest rates, it's important to consider the broader perspective. Post-COVID, interest rates were exceptionally low, but historically, Miami has been a city of continuous growth and resilience. Despite fluctuations, both developers and buyers have consistently adapted to prevailing economic conditions and interest rates.
The recent renaissance of Miami following COVID has been remarkable. The city's growth trajectory has not only resumed but accelerated, reflecting its enduring appeal and dynamic potential. While rising interest rates might pose challenges, they are part of a broader economic cycle to which Miami has consistently adapted. The city’s real estate market remains robust, driven by its unique blend of cultural vibrancy, economic opportunities, and an ever-expanding population.
PM: What's the most important thing you've learned throughout your career?
RT: The most important lesson I've learned throughout my career revolves around the power of vision. If you have a clear vision and never give up, you will always find a way to attain it. I entered the Orlando market as a developer, we had to compete with companies that had been here for a long time and had an established reputation. I quickly learned that working collaboratively with government officials, city planners, and understanding their needs and vision for the community was key to making our dreams for projects like Visions Reort & Spa and The Flats Orlando a reality. This experience reinforced my belief that perseverance and a well-defined vision can overcome even the most daunting challenges.
PM: Where do we find you on your day off?
RT: Enjoying life while out on the water with my family.
Robert Thorne Bio:
Robert Thorne, CEO of Urban Network Capital Group, brings almost 20 years of experience to the real estate housing market in Florida. Catering to demand for condo-hotels and flexible homeownership investments, with new construction properties in Brickell and Orlando, UNCG distinguishes its products with features like wellness-focused amenities, resort-caliber services and the unique advantage of on-site hotel management to maximize the earning potential of each owner’s unit.
Elle Residences Miami