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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FIRST ON PROFILE: Indian Creek Residences & Yacht Club in Bay Harbor Locks Down $29 Million Construction Loan
FIRST ON PROFILE: The New York and South Florida-based Landau Properties has closed on a construction loan for Indian Creek Residences & Yacht Club on Miami’s Bay Harbor Islands, a boutique residential property, which will include condominium residences and a private marina. Construction on the development is now underway and sales will formally launch this fall. Miami-based private real estate lender BridgeInvest originated the $29 million loan.
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SHVO Locks Down $190 Million In Financing For The Raleigh Hotel & Residences, Miami Beach
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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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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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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Terra and Lion Development Group Acquire Midtown Development Site For $40 Million
A joint venture between leading Miami-based developers Terra, led by David Martin, and Michael Simkins’ Lion Development Group, has closed on the $40 million purchase of a prime 1.6-acre piece of property located at 3501 NE 1st Avenue in Miami. Plans call for an iconic luxury condominium tower designed by Miami-based architect Arquitectonica and international design studio Yabu Pushelberg set to rise at the nexus of Miami’s most in-demand neighborhoods.
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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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MV Real Estate Holdings Locks Down Construction Loan And Breaks Ground On Miami Senior Affordable Housing Development
The first project in collaboration between Miami-Dade Public Housing and Community Development (PHCD), Miami-Dade Parks, Recreation and Open Spaces (PROS), and Miami-Dade Transportation and Public Works (DTPW) with the private sector created to provide attainable housing solutions to seniors has been given the green light to begin construction. MV Real Estate Holdings, LLC is set to break ground on the highly anticipated Ludlam Trail Towers on March 14.
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