Rendering by Binyan Studios
FIRST ON PROFILE: Swire Properties has revealed the first official details of One Island Drive, an unparalleled residential and hospitality destination set within a secluded island sanctuary moments from Miami’s vibrant urban core. Surrounded by waterfront vistas, One Island Drive will be one of the crowning achievements of Swire Properties’ portfolio of world-class properties and is destined to be a defining landmark on the Miami skyline.
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Sabal Development, an award-winning builder and developer, has sold a luxury custom-built villa on Venetian Island for $21 million. Togu Design redesigned the modern, waterfront home at 1370 South Venetian Way. The new residence features a rooftop deck with pool and jacuzzi, ground floor deck with lounge area, negative-edge pool and jacuzzi, and stunning views of the Miami skyline from South Beach to Brickell/Downtown Miami.
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Demotion has commenced on the future waterfront site of Olara in West Palm Beach, a luxury condominium tower that overlooks the Intracoastal Waterway. Olara is being developed by Savanna, a vertically integrated real estate investment and development firm with offices in New York and West Palm Beach. Set to transform he waterfront of North Flagler at 1919 North Flagler Drive, Olara will deliver premier condominium residences, 80,000 square feet of exclusive amenities.
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Okan Tower, the new mixed-use megaplex set to become one of the tallest towers on Downtown Miami’s skyline at 902', has revealed a first look at the luxurious renderings of its Hilton Miami Bayfront Hotel. Showcasing the awe-inspiring lobby entrance, reception area, and lobby bar, the sophisticated design created by interior designer Adil Tunca, is highlighted with sweeping, breathtaking views of vibrant Downtown Miami and Biscayne Bay.
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Related Group has broken ground on Pompano Beach’s newest beachside condominium, Casamar Residences, as the building nears sell-out. Set upon nearly 300 feet of pristine white sand, the boutique luxury property will house only 119 oceanfront condos with world-class designs by the award-winning Arquitectonica and The Rockwell Group. With completion expected in 2025, only select units remain.
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Participant Capital CEO/ Managing Principal Dan Kodsi
Participant Capital Advisors, a real estate investment firm that manages private equity real estate vehicles, announced the launch of its latest fund: the Participant Capital Sun Belt Multifamily Development Fund 1 (the "Fund"). The Fund has a fundraising target of $250 million in commitments to allocate to multifamily development projects in the booming Sun Belt region. The Fund is a closed-end private equity real estate vehicle with an 8-year projected term.
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Leasing is now underway at ‘The Vessel’, a high-end multi-space commercial development located at 101 NW 26th St. in Wynwood. The ultra-modern property was designed by Touzet Studio, who also designed Miami' Beach’s Apple and Nike flagship stores on Lincoln Road. ‘The Vessel’ spans 20,000 SF of leasable retail space and features multiple F&B entertainment suites complete with outdoor terraces and a rooftop.
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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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The Ritz-Carlton Residences, Estero Bay sales velocity has continued to propel through the month of April, achieving $240 million in sales to date, as it sails toward the next benchmark of beginning construction this summer. The property, led by visionary London Bay Development Group, will feature 224 distinguished residences within two elegant 22-story towers on nearly a mile of waterfront. With purchases now under contract, this surge of activity is the result of interest from buyers drawn to the rare opportunity to live among nature, on the shore of the thriving Estero Bay aquatic preserve.
Read MoreSwire Properties Inc. and Related Companies have commenced demolition on the site of the future One Brickell City Centre, an approximately 1,000-foot supertall tower that will be the tallest commercial building in Florida. On Thursday May 4 one of the buildings on the site was partially demolished with Miami Mayor Francis X. Suarez, Henry Bott, the President of Swire Properties and Stephen M. Ross, the Chairman and Founder of Related Companies in attendance.
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