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Aston Martin Residences Locks Down $200 Million Construction Loan

Aston Martin Residences Locks Down $200 Million Construction Loan

November 28, 2018

G&G Business Developments has locked down a $200 million construction loan for Aston Martin Residences, now under construction in Downtown Miami. The financing is being funded by Itaú BBA International plc, a London affiliate of the Brazilian bank, and was borrowed by Riverwalk East Development LLC, an affiliate of G&G Business Developments LLC.

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In Construction, Construction News, Construction Update, Downtown, Finance & Banking, New Construction, News, Sales Update Tags Itaú BBA International plc, Aston Martin Residences, Aston Martin, Aston Martin Tower, G&G Business Development, Downtown, Riverwalk East Development LLC, Revuelta Architecture, Bodas Mian Anger, Finance, Financing, Finance & Banking, Construction News, Construction, Construction Loan, Construction Update, New Construction, News, Sales Update, Featured
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Metronomic Reveals $74 Million Mixed-Use Transformation of Grand Avenue in West Coconut Grove

Metronomic Reveals $74 Million Mixed-Use Transformation of Grand Avenue in West Coconut Grove

November 27, 2018

West Coconut Grove, one of the hottest neighborhoods for development in Miami that has seen a massive transformation over the past 3 years, will be getting a massive new mixed-use project on the Grand Avenue corridor. Metronomic is under contract to purchase a 12 property assemblage at 3280-3461 Grand Avenue for $25 million with a closing date set in mid-February 2019. Metronomic, led by Ricky Trinidad, has proposed a $74 million, 297,000 SF mixed-use development that would feature luxury apartments, affordable housing, retail, office space, community parks, public parking and a 44-key hotel. Trinidad hopes receive FAA approval to build a rooftop helipad. The project is designed by Pablo Burgos of Burgos Lanza & Associates and Carl Levin of CLAD Architects.

The project would be built in multiple phases with the first being Metronomic Place, which will feature a boutique office building and the hotel component at 3280 Grand Avenue. Metronomic expects to break ground on Metronomic Place before the end of 2018 after locking down a $6.8 million construction loan financed by Fuse Funding. Metronomic Place will rise 5-stories and will feature the 44-key hotel, 5,000 SF of Class A Office Space, 3,200 SF of ground floor retail. Phase 2 would begin in March after the closing and would include the build-out of the rest of the project to be completed within 2 years. Phase 2 will include 38 furnished micro units, 82 luxury apartments rentals and 40 affordable housing units along with a public area for farmers markets and stage for live performances.

In Coconut Grove, Commercial, Hotels, Mixed Use, News, New Construction, Office Space, Finance & Banking Tags Coconut Grove, West Coconut Grove, News, Metronomic Inc., Metronomic, Metronomic Place, Commercial, Mixed Use, Hotels, Hotel, Office Space, Class A Office Space, 3280 Grand Avenue, 3461 Grand Avenue, Fuse Funding, Construction Loan, Financing, Finance, Finance & Banking, Carl Levin, CLAD, Pablo Burgos, Burgos Lanza & Associates, Grand Avenue, New Construction, Featured
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Trump Group Affiliate Secures $558 Million Loan For The Estates At Acqualina In Sunny Isles Beach

Trump Group Affiliate Secures $558 Million Loan For The Estates At Acqualina In Sunny Isles Beach

October 4, 2018

The development team behind The Estates at Acqualina has closed on a $558 million construction loan on September 28, 2018 that will fund the vertical construction and completion of both residential towers at The Estates at Acqualina.

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In New Construction, Sunny Isles, Luxury Real Estate, Construction, Construction News, Construction Update, Finance & Banking Tags Trump Group, Jules Trump, Karl Lagerfeld, The Estates at Acqualina, Estates at Acqualina, Sunny Isles Beach, Sunny Isles, New Construction, Featured, Luxury Real Estate, Financing, Finance & Banking, Finance, Construction Update, Construction Loan, Construction, Construction News
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University Bridge Residences Closes On $231 Million In Bond Financing

University Bridge Residences Closes On $231 Million In Bond Financing

October 1, 2018

University Bridge GP, LLC, a partnership between between Miami-based Global City Development, RER Ventures and Toronto-based Podium Developments that is developing the off-campus 20-story student housing rental tower University Bridge Residences, has closed on a $231 million bond issuance.

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In Construction, Construction News, Construction Update, Doral, New Construction, News, Finance & Banking, Student Housing, Rentals Tags University Bridge Residences, Financing, Finance & Banking, Finance, Florida International University, FIU, Coastal Construction, Global City Development, Arquitectonica, Diego Procel, Christopher Kallivokas, University Bridge GP, RER Ventures, Podium Developments, Doral, Brian Pearl, New Construction, News, Construction News, Construction, Construction Update, Construction Loan
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Investment Spotlight: Reinvigorating Miami’s Real Estate Investment with Opportunity Zones

Investment Spotlight: Reinvigorating Miami’s Real Estate with Opportunity Zones

September 19, 2018

The opportunity zone program is a little-known provision of the Tax Cuts and Jobs Act that could be a powerful economic development tool for designated low-income communities. The program provides tax incentives to developers who invest in these areas, including 427 tracts of land in Florida, 68 of which are in Miami-Dade County.

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In Agent Insight, Broward, Commercial, Community, Education, Finance & Banking, Legal, Little Haiti, Little Havana, Little River, Market Insight Tags opportunity zone, Tax Cuts and Jobs Act, opportunity fund, community investment, economic development program, Germaine Smith-Baugh, Urban League, tax incentives, Featured, Katya Demina
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Two Roads Development Locks Down $138 Million Construction Loan For Elysee In Edgewater

Two Roads Development Locks Down $138 Million Construction Loan For Elysee In Edgewater

August 15, 2018

Two Roads Development has officially secured a $138 Million construction loan for Elysee, their luxury condominium tower rising in Edgewater. The financing was provided by JPMorgan Chase Bank, National Association as construction teams have already taken the tower vertical.

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In Construction Update, Edgewater, News, Construction, Construction News, Finance & Banking Tags News, Two Roads Development, Elysee, Edgewater, Arquitectonica, Bernardo Fort-Brescia, Jean-Louis Deniot, Cervera Real Estate, Construction Update, New Construction, Featured, Construction News, Construction Loan, Finance, Financing, Finance & Banking, Construction, Latham & Watkins LLP, Robert Buday, Rachel Bates, Diana Doyle, JP Morgan Chase Bank, James Harpel
Moishe Mana Gets $20.13 Million Loan To Build Mana Wynwood Americas-Asia Trade Center & International Financial Center

Moishe Mana Gets $20.13 Million Loan To Build Mana Wynwood Americas-Asia Trade Center & International Financial Center

August 3, 2018

Moishe Mana has secured a $20.13 million construction loan to build Mana Wynwood Americas-Asia Trade Center & International Financial Center. The financing was provided by Centennial Bank to Malux Realty, Malka Realty and Mizrachi Holdings for properties at 2337 Northwest Fifth Avenue, 375 Northwest 23rd Street, 394 Northwest 24th Street and 382 Northwest 24th Street.

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In Wynwood, News, Construction Update, Construction News, Construction, Finance & Banking Tags Wynwood, Mana, Moshie Mana, Americas-Asia Trade Center & International Financial Center, Construction Update, Featured, News, Moishe Mana, Financing, Finance & Banking, Finance, Construction Loan, New Construction, Construction News, Construction
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ROVR Development Closes $27 Million Construction Loan For The Fairchild Coconut Grove

ROVR Development Closes $27 Million Construction Loan For The Fairchild Coconut Grove

July 27, 2018

ROVR Development is pleased to announce it has closed on a $27 million loan for The Fairchild Coconut Grove, the new luxury waterfront condo development rising directly on Biscayne Bay in Coconut Grove. Ocean Bank provided the financing for the project which broke ground in April 2018.

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In Coconut Grove, News, Construction, Construction News, Construction Update, Finance & Banking, New Construction Tags The Fairchild Coconut Grove, The Fairchild, New Construction, News, Coconut Grove, Construction Loan, Construction Update, Construction, Construction News, Lending, Banking, Finance, Financing, Ocean Bank, ROVR Development, Finance & Banking, Featured
Newgard Development Group Completes The Sold-Out Gale Residences Fort Lauderdale Beach

Newgard Development Group Completes The Sold-Out Gale Residences Fort Lauderdale Beach

June 24, 2018

Newgard Development Group has completed the Gale Residences Fort Lauderdale Beach, the 129-unit hotel-condo project which is located at 401 Bayshore Drive and part of the Gale Boutique Hotel & Residences project. Closings are expected to begin soon with a roughly $100 million sell-out.

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In Construction News, Construction Update, Commercial, Hotels, New Construction, News, Fort Lauderdale, Sales Update, Finance & Banking Tags Newgard Development Group, News, Construction Update, Construction News, Sales Update, Fort Lauderdale Beach, Fort Lauderdale, Hotel, Hotels, Commercial, Menin Hospitality, Harvey Hernandez, Escape Hotel, Merrimac Ventures, Gale Residences Fort Lauderdale, The Gale, Gale Boutique Hotel, Gale Boutique Hotel & Residences, 401 Bayshore Drive, Broward, Gale Fort Lauderdale, New Construction, Dev Motwani, HSF, HALL Structure Financing, Construction Loan, Financing, Finance
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Related Group Pays Off $166 Million Construction Loan For SLS LUX Which Is Set To Open

Related Group Pays Off $166 Million Construction Loan For SLS LUX Which Is Set To Open

June 8, 2018

Related Group has announced that they have paid off construction financing for the soon-to-open SLS LUX Brickell Hotel & Residences. The $166.1 million loan was issued by TPG Real Estate Finance Trust, the commercial real estate debt platform of TPG Real Estate, in September 2015.

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In Brickell, Construction News, Construction Update, Finance & Banking, News, New Construction, Hotels, Commercial Tags Construction Update, Construction News, Construction Loan, New Construction, Brickell, News, Financing, Finance, SLS LUX, Related, Related Group, The Allen Morris Company, Allen Morris Company, TPG Real Estate, SLS Lux, SBE, TPG Real Estate Finance Trust, Katsuya, SBar Lounge, Katsuya Uechi, Carlos Rosso, Ben Gerber, Commercial, Hotels, Hotel, SLS LUX Brickell Hotel & Residences, Featured
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