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.
Read MoreWitkoff And Monroe Capital Announce Restoration And Redevelopment Of Iconic Shore Club Hotel In Miami Beach
Witkoff and Monroe Capital have announced a partnership with world renowned Robert A.M. Stern Architects to restore and redevelop the iconic Shore Club Hotel at 1901 Collins Avenue in Miami Beach. On November 15th, 2021, Witkoff and Monroe Capital filed an application with the City of Miami Beach for approval by the Historic Preservation Board.
Read MoreWitkoff And Monroe Capital Acquire Cancelled Marriott Maquis Miami Worldcenter Site For $94 Million
The New York City-based real estate investment group Witkoff and the Chicago-based Monroe Capital have acquired the site of the now cancelled Marriott Marquis Miami Worldcenter from MDM Group for $94 million. The 4.7 acre site is located at 700 North Miami Ave.
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