Rendering by DBOX
Fortune International Group and Château Group, developers of The St. Regis Residences, Sunny Isles Beach, Miami, announced today that they have secured a $418.3 million construction loan package. Bank OZK was the lender. The total package ranks among the largest ever for Sunny Isles Beach real estate.
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Allen Morris Co., one of the leading real estate firms in the Southeast U.S., has secured a $138.5 million construction loan from BDT & MSD Partners (“BDT & MSD”), through its affiliated funds, and BHI, the U.S. Bank of Bank Hapoalim, B.M. for Ziggurat, a mixed-use development that will enhance the heart of Coconut Grove, while ensuring homage to the area’s deep history and heritage.
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Real estate development and investment firm Naftali Group has secured a combined $465 million in construction loan financing for the development of JEM Private Residences in Downtown Miami. Nuveen Green Capital (NGC), a leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, provided $235 million in C-PACE financing, while Bank Hapoalim (BHI) supplied an additional $230 million in traditional construction loans.
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Oak Row Equities, a leading vertically-integrated real estate private equity and development company with over $3.9 billion of development in South Florida led by Erik Rutter and David Weitz, and LNDMRK Development, a principal based real estate company concentrated on mixed use urban development and opportunistic value based acquisitions led by Alex Karakhanian, have broken ground on 2900 Terrace.
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Newgard Group and Two Roads Development closed on $513 million in construction financing for their One Brickell Riverfront project in Miami’s financial district, making it one of the largest residential construction loans in the South Florida market this year.
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Continuum Company has secured a $67 million construction loan from S3 Capital to advance La Baia North, its second boutique bayfront condominium in Bay Harbor Islands. The eight-story project at 9481 E Bay Harbor Drive will feature 57 residences, is already 75% pre-sold, and is scheduled for delivery beginning of 2027.
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Terra, a prominent real estate development company in Miami’s Coconut Grove, and Sympatico Real Estate, a Palm Beach-based firm owned by the Morrison family, announced today the closing of a $285 million construction loan for Mr. C Hotel & Residences West Palm Beach.
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Berkadia, a distinguished leader in the commercial real estate sector, announces it arranged a $56 million loan to recapitalize Wynwood Haus, a newly built 224-unit multifamily community with ground-floor retail located at the entrance to Miami’s Wynwood neighborhood.
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MG Developer has secured a $41 million construction loan from Pine Bay Capital to bring The George, its final and most prestigious project in Biltmore Square, to life. Located at 717 Valencia Avenue, this exclusive collection of 13 ultra-luxury townhomes represents the culmination of MG Developer’s transformative vision for Coral Gables.
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Celestial Fund, under the leadership of Founder and CEO Eugene Rutenberg, has closed on a $35 million bespoke debt package, structured for the recapitalization and refinancing of an exceptional three-property Spec Home portfolio, developed by Cicardo Development — a premier merchant builder based in South Florida.
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