On Wednesday February 7, 2024 PROFILEmiami will host its inaugural South Florida Capital Markets Summit, exploring the current state and future of how real estate in Miami is valued, financed, and transacted with South Florida’s top real estate and finance executives.
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THE FIFTH MIAMI BEACH Locks Down $47.3 Million In Construction Financing From Cain International
International recognized real estate development firms, Sumaida + Khurana and Bizzi+Bilgili, a partnership between Bizzi & Partners with Serdar Bilgili, have locked down a $47.3 million construction loan for THE FIFTH MIAMI BEACH, a five-story Class A+ office building designed by renowned Spanish master architect Alberto Campo Baeza in Miami Beach’s South of Fifth neighborhood.
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Rosso Development, Standard International and Midtown Development Lock Down $45.045 Million Construction Loan For Standard Residences, Midtown Miami
Hospitality and real estate pioneers Rosso Development, Standard International and Midtown Development have closed on a $45,045,000 construction loan from Bank OZK for the highly anticipated The Standard Residences, Midtown Miami. A JLL Capital Markets Debt Advisory team, led by Managing Director Brian Gaswirth and Associate Jimmy Calvo, represented the developer.
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Neology Life's No.17 Residences Allapattah Locks Down $31.456 Million Refinancing
Berkadia has secured a $31 million loan to refinance No.17 Residences Allapattah, a 192-unit attainable luxury apartment rental building in the Fruit Packing District of Allapattah. Berkadia South Florida secured the financing on behalf of Neology Life Development Group, a lifestyle-driven residential and commercial real estate firm, led by Lissette Calderon, that specializes in the transformation of overlooked and undervalued communities into vibrant urban neighborhoods. Fannie Mae originated the 10-year loan with five years of interest-only.
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2200 Brickell Secures $77 Million Construction Loan from Bank OZK
Aria Development Group, Largo and Place Projects have secured $77 million in construction financing for 2200 Brickell, a five-story luxury condominium development on Brickell’s lush Millionaire’s Row. The construction financing was provided by Bank OZK which was represented by King & Spalding. Hunton Andrews Kurth and The Aztec Group represented the developers. 2200 Brickell is slated to break ground in Q4 2023. Residences are priced from $1.2 million
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Alex Witkoff of Witkoff Group and Shore Club Private Collection (Photo by Glen Allsop, Rendering via The Boundary)
Witkoff Group and Monroe Capital Close On Record-Breaking Loan For Shore Club Private Collection
Witkoff Group, a Miami-based development and investment firm, and Monroe Capital, a premier asset management firm, have closed on a $430 million construction loan for Shore Club Private Collection, which is on track to be one of the fastest-selling luxury developments in Miami Beach’s history. Financed by J.P. Morgan, the loan is believed to be the largest for a residential construction project in South Florida.
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PMG and Greybrook Lock Down $226 Million Construction Loan For Phase 2 Of Society Las Olas
Leading real estate development firm PMG and private equity firm Greybrook have secured $226 million in construction financing for phase two of Society Las Olas, a 42-story apartment community located in Downtown Fort Lauderdale at 140 SW 2nd St. The loan was provided by Related Fund Management and Lubert-Adler. John Moriarty & Associates is the general contractor of Society Las Olas’ second phase, which is currently completing groundwork and is slated for completion in Q1 2026.
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MG Developer Locks Down $67.5 Million Construction Loan For The Village at Coral Gables
MG Developer, led by Alirio Torrealba, announces it has secured a $67.5 million construction loan from Churchill Real Estate to build the highly anticipated Village at Coral Gables development, with groundbreaking expected this July. Located at 535 Santander Avenue, is a 48-residence collection that will pay homage to the aesthetic beauty and lifestyle of Seville, Spain, and continue the legacy of the dreamer and founder of Coral Gables, George Merrick, and his vision for “The City Beautiful.”
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CYMBAL DLT Companies Locks Down $95 Million Loan For Newly Built Oasis Pointe Residences In Dania Beach
Miami-based real estate development and construction firm Cymbal DLT Companies has secured a $95 million loan from an undisclosed senior lender and from Related Fund Management for Oasis Pointe Residences, a multifamily complex in Dania Beach that they recently developed and will now continue to be part of the Cymbal DLT Collection of communities in South Florida.
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Matthew Villetto with Douglas Elliman, Mayor Fuller, James Curnin Developer Clara Bay Harbor, Jay Parker CEO of Douglas Elliman Florida, Joe Azar with Douglas Elliman
Clara Homes Breaks Ground on 'Clara Bay Harbor' On The Coveted Bay Harbor Islands
On the heels of closing on a $26 million construction loan for Clara Bay Harbor, Clara Homes has broken ground on Phase 1 of its luxury rental development, Clara Bay Harbor. Located at 10281 W. Bay Harbor Drive, the first building, a six-story midrise, will feature 28 well-appointed apartments designed with the same quality and level of finish as a luxury condominium. Inspired by New York’s famous apartment buildings, with personalized doormen and concierge service.
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