SHVO, the ultra-luxury real estate development and investment firm led by Michael Shvo, has secured $190 million in new financing for The Raleigh Hotel & Residences, Miami Beach, a significant milestone in the next chapter of the iconic art-deco storied property. The loan, provided by BH3 Debt Opportunity Fund II, L.P. led by BH3 Management through its opportunistic credit platform, closed earlier this week. Construction is well underway and the property is on-track to open in 2026.
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Related Group And Rockpoint Sign Leases With Three New Retail Tenants At Manor at Miramar
Related Group, Rockpoint, and JLL have signed leases with three retail tenants at the new, mixed-use development Manor at Miramar now under construction in the heart of Miramar, Florida. Crema Gourmet, Sweat440, and The Spot Barbershop are the first retail tenants announced at the project located at 1 Main Street in Miramar where approximately 17,600 square feet of ground-level retail space remains available for lease.
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Scott Wadler (Berkadia), Ayush Kapahi (HKS), Diego Torellaba (MG Developer), Catie Naranjo (MG Developer), Melissa Tapanes (Berkow), Demetri Demascus (PROFILEmiami) and Alirio Torellaba (MG Developer)
Inside 'An Exploration Into Capital Markets Coral Gables' Presented By PROFILEmiami & MG Developer
On Tuesday July 25, 2023 PROFILEmiami teamed-up with MG Developer to present ‘An Exploration into Capital Markets Coral Gables’, bringing an immersive panel and cocktail event exploring capital markets and real estate development in South Florida to the beautiful ‘Village at Coral Gables’ showroom. The relaxed and open setting featured cocktails courtesy of MG Developer and food from Coral Gables staple restaurant, Zucca, while attendees networked with industry leaders one of Miami’s hotbed neighborhoods for business and development.
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Elysee Investments Acquires Retail Property Across From Former Deauville Development Site For $5.5 Million
Elysee Investments, one of Miami Beach’s largest retail owners, $5.5 million sale of 6644 Collins Ave. in Miami Beach, an 8,700-square-foot corner retail property with four tenants. The one-story, freestanding building is located directly across the street from the famed, 3.8-acre Deauville Hotel site, which features 500 feet of beachfront. The Deauville Hotel site has made headlines for years as the famed hotel fell into an unsalvageable state before controversially being demolished.
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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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Diesel Opens New Location In Miami Design District
Diesel has opened a new store in the heart of Miami’s Design District. Located at located at 81 NE 41st Street, the space reflects the brand’s signature bold attitude and its recent transformation under the Creative Direction of Glenn Martens. This store also introduces a new retail design concept that will serve as the visual vocabulary connecting Diesel’s global store fleet.
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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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Image via Omar Vega
Reserve to Open World-Class Padel Club at SoLé Mia
Reserve, the leading lifestyle padel brand established by entrepreneur Wayne Boich, in collaboration with SoLé Mia, the 184-acre, master planned North Miami community developed by LeFrak and Turnberry, today announce the anticipated addition of Reserve Padel club to the growing development project, expected to open fall 2024. Serving as the brand’s first permanent location in the world, Reserve Padel at SoLé Mia, will be located at 2251 NE 146th Street.
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Fisher Brothers Reveals Wynhouse Miami, Mixed-Use Multifamily Development in Wynwood
Fisher Brothers, a fourth-generation real estate company that owns, manages and operates unique spaces across the country, today announced the start of construction of Wynhouse Miami, a mixed-use multifamily development in the heart of Miami’s Wynwood neighborhood. Wynhouse Miami will rise eight stories and offer 308 rental residences, approximately 26,000 SF of ground floor retail and paseo space and nearly 25,000 SF of expansive indoor and outdoor amenities.
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