Constellation Group, Boschetti Group and Vietmar Secure $42.3 Million Construction Financing For Ella Miami Beach

Miami-based real estate development firms Constellation Group, The Boschetti Group and Vietmar have closed on a $42.3 million construction loan for Ella Miami Beach, a 10-story boutique condominium in the heart of Miami’s North Beach neighborhood. Berkadia secured the construction loan through the lender Amerant Bank, which provided financing for a three-year, floating-rate loan term.

The highly anticipated development, which broke ground in February 2025, has already achieved more than 50% in pre-construction sales, demonstrating strong market validation for the project. Located at 6940 Abbott Avenue, Ella Miami Beach is scheduled for completion in 2026.

"Securing this construction financing represents a crucial milestone in bringing Ella Miami Beach to life," said Eduardo Otaola, Managing Principal of Constellation Group. "Our vision for this project has resonated strongly with buyers who recognize the unique opportunity to own a thoughtfully designed residence in one of Miami Beach's most promising neighborhoods. This financing allows us to continue our momentum and deliver on our commitment to creating an architectural landmark that honors Miami Beach's iconic Art Deco heritage.”

The financing was arranged by Berkadia South Florida, led by Scott Wadler, Mitch Sinberg, Brad Williamson, Matt Robbins and Mike Basinski.

“The development partners were early movers in the North Beach submarket, allowing them to set the neighborhood standard for new, high-quality residential living at an attractive price point,” said Wadler.

“We are proud to finance Ella Miami Beach, a development that reflects our commitment to South Florida’s growth and revitalization,” said Juan P. Esterripa, SEVP, Chief Commercial Banking Officer, Amerant Bank.

Designed by renowned architecture firm, Arquitectonica, Ella Miami Beach features studios, one- and two-bedroom floor plans. Residences range from 342 to 1,089 square feet, and pricing starts in the $500,000s, an attractive offering for new construction in Miami Beach, where prices typically begin above $1 million.

Primed for seamless indoor/outdoor living, each residence features gracious terraces with select homes offering impressive views of Biscayne Bay, the Atlantic Ocean, and the Miami skyline. Punctuating the style and sophistication of the project, each of the residences will be delivered with approximately 9-foot-high ceilings throughout, contemporary ItalKraft kitchens with stone countertops and JennAir appliances, and European-inspired designer closets. For a completely turn-key residential experience, bespoke Interiors by Steven G. packages are available for purchase at attractive pricing, blending modern furnishings with classic Art Deco architecture.

Among the many signature elements that enhance the experience of being an owner at Ella Miami Beach is a suite of amenities that include a rooftop pool and fitness center with boundless views of Biscayne Bay and Downtown Miami, a pickleball court overlooking the Atlantic Ocean, residents’ lounge, summer kitchen with an outdoor dining area, and an observation deck and lounge. The property’s wellness amenities include an outdoor yoga and meditation deck, a cold plunge, and a sauna. Other lifestyle conveniences include private beach club access managed by The Boucher Brothers, short-term rental options managed by Nomada, a coworking area for remote workers, complimentary beach cruisers, bike and beach toy storage, onsite parking and retail, and more.

The Ella Miami Beach sales gallery is located at 6897 Collins Avenue in Miami Beach.

For more information about Ella Miami Beach or to inquire about purchasing a unit please fill out the form below:

Fortune International Group Closes On $36.08 Million In Pre-Development Financing For ORA by Casa Tua

Fortune International Group has closed on the the 46,373 SF site at 1210 Brickell Ave for the planned ORA by Casa Tua 77-story tower and as well as on $36,080,000 in pre-development financing from Amerant Bank. ORA by Casa Tua launched sales last year and plans for residences to go into contract soon. Fortune International Group had been under contract to acquire the site from Miami-based Patagonian Investment Internacional LLC; now that the acquisition has been completed Fortune can further the development and ready the site for construction with an expected groundbreaking in 2025.

"The acquisition of the site and loan closing are principal steps that mark an exciting beginning for ORA by Casa Tua’s vision to take shape,” said Edgardo Defortuna, President, CEO, and founder of Fortune International Group. “We are eager for Miami’s community to sense the anticipation and witness the project come to life."

The luxury development includes  533 fully furnished residences which are permitted for short-term rentals and will also be home to approximately 25,000 SF of space dedicated to Casa Tua’s four new restaurant concepts. In addition to the culinary offerings at ORA by Casa Tua, the development will also have creative workspaces featuring private office spaces, conference rooms, content creation rooms, bar lounge and outdoor seating. ORA by Casa Tua will feature resort-style offerings including a second pool on the 12th floor with a sun shelf, loungers, cabanas and jacuzzi; show kitchen, private event space and luscious green landscaping. Other amenities will include an entertainment lounge, a two-floor fitness and wellness center with a hammam and couples treatment rooms and a three-story open sky garden, which will be unique for Miami.

Globally recognized award-winning architecture firm Arquitectonica is behind the design of ORA by Casa Tua while m2atelier, known for their bespoke approach and created by Marco Bonelli and Marijana Radovic, are designing the interiors for both the amenity and residential spaces.

Residences at ORA by Casa Tua range from 500 SF studio homes to 2,400 SF four-bedroom fully furnished residences that will be ready for immediate listing as short-term, seasonal, or long-term rentals. All residences will offer panoramic views overlooking Brickell, Biscayne Bay and Coconut Grove; have ten-foot ceilings with floor-to-ceiling windows and curated window treatments; Italian-designed kitchens with top-tier appliances; Italian-designed baths with imported fixtures; smart home technology; pre-wired for high-speed internet & Wi-Fi; spacious walk-in closets; and washer and dryers. Sales and marketing being handled internally by Fortune International Group, pricing started in the $800,000’s for studio units when sales launched last year.

Casa Tua was founded by Miky and Leticia Grendene, who opened their flagship Miami Beach location in 2001 as a welcoming place for friends, family, and guests from around the world to come together to celebrate life. Pioneering the members club concept in Miami, Casa Tua combines art, entertainment and fine dining with a signature Italian style where simplicity meets sophistication. It has since expanded to locations in Aspen and Paris, with New York City opening in 2023. The brand also launched Casa Tua Cucina in partnership with Richard Baker and Saks Fifth Avenue, an award winning Italian open kitchen concept, located in Miami’s Brickell City Centre.

Renderings via Fortune International Group

For more information about ORA by Casa Tua or to inquire about purchasing a unit please fill out the form below:

BH Group, PEBB Enterprises and Related Group Acquired Mixed-Use Shopping Center Development Site For $48.5 Million In Fort Lauderdale

BH Group, PEBB Enterprises and Related Group have closed the $48.5 million acquisition of a waterfront mixed-use shopping center with fully entitled development rights in Fort Lauderdale. The joint venture plans a transformative mixed-use project with brand-new residences, retail and restaurant space. This strategic acquisition underscores the collaborative vision of the partners to enhance urban living and dining experiences in Fort Lauderdale. Amerant Bank provided acquisition financing. BH, PEBB and Related plan to unveil project details in the coming months which will aim to create a vibrant, multifunctional space that caters to both residential and commercial needs.

Located at 1515 SE 17th St. in the city’s Harbordale neighborhood, the 7-acre site is entitled for the development of 361 residential units and 12,000 square feet of retail and restaurants. The site is home to an existing 73,000-square-foot shopping center, The Quay, with the popular Boatyard restaurant, a variety of additional eateries and yachting tenants. It also includes a marina and two-story office building. The property will undergo significant improvements to align with the new development vision.

“Opportunities to acquire an infill waterfront site in a high-traffic area near downtown Fort Lauderdale do not come around often,” PEBB Chief Investment Officer Eric Hochman said. “Our partnership is well-positioned to maximize the site’s tremendous potential. This project will bring unique value to the local community, including new job opportunities and enhanced lifestyle amenities.”

Tricera Capital And Alex Karakhanian's LNDMRK Development Acquire Cube Wynwd For $28 Million

Scott Sherman and Ben Mandell’s Tricera Capital in partnership with Alex Karakhanian’s LNDRMK Development have acquired the recently completed Class A office building Cube Wynwd for $28 million. The transaction was financed with $19.6 million in financing split between a senior loan from Amerant and a mezzanine loan from Glacier Credit Strategies which were arranged by Scott Wadler of Berkadia. Cube Wynwd was developed in 2019 by Redsky Capital in partnership with JZ Capital Partners and was financed by Bank OZK and Lionheart Strategic Management.

The building is located at 222 NW 24th St. in Wynwood. Cube Wynwd was designed by Arquitectonica and rises eight stories and offering 100,000 square feet of commercial space. Coworking operator Spaces had leased roughly 30% of the property prior to the sale. The New York-based restaurant group Kissaki also recently signed a lease for the rooftop restaurant space. Other tenants include local retailer ILLIMIT and Bonci Pizzeria.

For more information about commercial leasing at Cube Wynwd, private showings or availability/ pricing information please fill out the form below: