Urban Network Capital Group, Meliá Hotels & Resorts and Concepto Capital Group Top Off Meliá Residences Miami

Urban Network Capital Group (UNCG), Meliá Hotels & Resorts, and Concepto Capital Group have topped-off Meliá Residences Miami, marking a major milestone in the development of the brand’s first hotel-branded residential concept in North America. The achievement coincided with strong sales momentum, further reinforcing the project’s appeal among both local and international buyers.

The structure reached its 8 story full height after weeks of steady vertical progress, reflecting disciplined execution and effective coordination among the development, design, and capital teams behind the project. Supported by a $30 million construction loan arranged by Concord Summit Capital and strengthened through the strategic involvement of Concepto Capital Group, the development continues advancing confidently into its next phases.

Meliá Residences Miami features 110 units, including studios, junior suites, and one-bedroom layouts. Owners will have the opportunity to maximize their returns by participating in a professionally managed hotel program. These fully furnished and decorated unit features an open-concept design that seamlessly combines the living and dining areas with a fully equipped kitchen, ideal for modern living.

The residences and common areas were designed by Adriana Hoyos Design Studio, internationally recognized for its contemporary, warm, and artisanal aesthetic. Their vision for Meliá Residences Miami incorporated natural materials, organic textures, and a Mediterranean-inspired palette that reflects Meliá’s hospitality identity, resulting in sophisticated, inviting, and highly functional spaces. Concepto Taller de Arquitectura, the architectural foundation behind Concepto Capital Group, was responsible for the design of the residential rooms.

Each residence was conceived as a turnkey home, fully finished and move-in ready, with curated furnishings and finishes selected to deliver an elevated and seamless living experience.

The project introduced a collection of wellness-driven amenities aligned with Meliá Hotels & Resorts’ global lifestyle approach, including wellness and relaxation spaces, fitness areas inspired by Mediterranean vitality, pools and outdoor terraces, social lounges, coworking areas, and hospitality-driven services designed to elevate the residential experience.

These amenities were crafted to offer a balanced and sophisticated lifestyle connected to Miami’s urban energy while supporting the growing demand for hospitality-oriented residential products.

Meliá Residences Miami represents the brand’s return to the city through a distinctive residential-hotel concept. The project blends Meliá’s Mediterranean heritage with the cosmopolitan vibrancy of Miami, creating a differentiated offering for buyers seeking design, hospitality, and lifestyle within one integrated development.

Born from more than 12 years of experience through Concepto Taller de Arquitectura, Concepto Capital Group has expanded beyond architecture into a broader real estate investment and development platform with a strong focus on the vacation rental and hospitality sectors. To date, the group has achieved more than $899 million in sellout value, over 2,110 units, $63 million in total equity, and more than 2 million square feet of gross area across its growing portfolio.

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Royal Palm Companies Locks Down $76.5 Million Construction Loan For Elevate Apartments In Dania Beach

Dan Kodsi’s Royal Palm Companies has locked down a $76.5 million construction loan for Elevate Apartments in Dania Beach. The 36-month financing was provided by the Miami-based 3650 REIT and replaced a previous $64 construction loan. The multifamily project, which is located at 600 East Dania Beach Blvd., is roughly halfway complete and is expected to be completed in November 2023. The financing was arranged by Kevin O’Grady of Concord Summit Capital.

Elevate Apartments was designed by NMD Nomadas and will feature 298 units which will range from studio to 3-bedroom floor plans. The building will also feature a full suite of amenities including a fitness center, business center and pool deck.

Royal Palm Companies is led by Dan Kodsi who has played an integral part of the development of Downtown Miami having delivered PARAMOUNT Miami Worldcenter and PARAMOUNT Bay, amongst other buildings, and is currently developing the sold-out Legacy Hotel & Residences Miami Worldcenter.

Lynd Living Locks Down $22.75 Million In Financing For Miami Worldcenter Site Acquisition

Lynd Living has acquired Block 23 at Miami Worldcenter for $30 million, financed by a $22.75 million acquisition land loan. Block 23 is located between NW 9th and NW 10th Street on North Miami Avenue and is one of the last remaining land sites within Miami Worldcenter, the 2nd largest master planned community in the country, behind New York City’s Hudson Yards. The transaction closed on August 26th.

Concord Summit’s Managing Director Kevin O’Grady and Director Justin Neelis represented Lynd on the senior acquisition land loan and represent Lynd as the exclusive advisors to place construction financing for a mixed-used project. Concord Summit was also the sales broker for the land sale. Concord Summit’s next step is to secure the construction financing for the project for Lynd. Miami Worldcenter is no stranger to Concord Summit Capital, who had also arranged the construction financing and equity for Paramount Miami Worldcenter for Encore Capital.

“David Lynd is a visionary and an incredible developer who I’m confident will bring a whole new level of residential living to Miami Worldcenter that the market has not seen before,” O’Grady said.

Miami Worldcenter is a $4 billion, 27-acre mixed-use development transforming the heart of Downtown Miami. Several phases of the project have already been completed, including three residential towers – PARAMOUNT Miami Worldcenter, Caoba, and Bezel Miami – and approximately 175,000 square feet of retail space. Coming up, a 351-room citizenM hotel is expected to open at Miami Worldcenter by the end of the year, along with another 125,000 square feet of retail space. Additionally, construction is underway at the 52-story Miami World Towers, which will comprise 550 apartment units; at Legacy Hotel & Residences, a 50-story mixed-use tower with 310 branded residences atop a hotel and 50,000 square feet of medical office space; and at the second phase of Caoba, which will encompass an adjacent 40-story tower with 420 apartments.

Planned developments include The Crosby, a 450-unit turn-key condominium by Related Group and Merrimac Ventures; a pair of “supertall” residential towers by New York-based Naftali Group; and a three-tower mixed-use project by The Witkoff Group, which will include up to 2,000 residential units as well as 550,000 square feet of office space and another 50,000 square feet of retail.

Complementing Miami Worldcenter’s open-air retail will be World Square, a 20,000-square-foot public plaza and park. Designed as a central gathering place and outdoor event space, World Square will serve as the heartbeat of the development featuring an abundance of shade trees, works of art by local and international artists, and oversized, pedestrian-friendly sidewalks lined with dining, entertainment, and retail concepts.

Forest Development Closes On $269 Million Construction Loan For Palm Beach County Condo

Forest Development has locked down a $269 million construction loan for Nautilus 220, a 330-unit luxury condominium project that is the first of its kind in Palm Beach County’s Town of Lake Park. Nautilus 220 will be 24-story twin condo towers on the water with a restaurant from renowned chef David Burke and many amenities in the once-overlooked town just across the Intracoastal Waterway from Singer Island. Nautilus 220 is already 60% pre-sold. Prices range from the $800,000s to more than $3 million.

The loan was arranged by Concord Summit Capital, LLC (“Concord Summit”) and provided by Fortress Investment Group to the Peter Baytarian-led Forest, which recently brought on Daniel Kodsi of Royal Palm Companies as a co-general partner in Nautilus 220. Concord Summit Director Justin Morrow and Managing Director Kevin O’Grady, both of Concord Summit’s Miami office, sourced the financing on behalf of the borrowers. Construction is underway, with an estimated completion in the second quarter of 2024. The project’s floating sales center is located on a barge in the Lake Park marina.

“This was an exciting transaction to work on, given the unique nature of this project,” Morrow said. “The borrowers are visionary developers who are bringing a resort-style waterfront living experience to Lake Park. Nautilus 220 truly has no counterpart in the market.”

“It has been a pleasure working with Concord Summit Capital over the past two years as they guided us through more than 13 financing opportunities for our Nautilus 220 mixed-use development in Lake Park,” said Baytarian, Managing Partner, Forest Development.” “The team saw the value of this project at the outset, and with their professional and invaluable expertise, as well as relationships in the industry, secured the perfect lender for us and this project.”

“We successfully leveraged our strong relationship with the team at Fortress to complete the transaction,” O’Grady said. “It was a pleasure to have the opportunity to work with them again. Nautilus 220 should continue to experience brisk sales activity, as the one-of-a-kind project fills a void for brand-new waterfront condos in northern Palm Beach County.”

Nautilus 220’s residences include a mix of one-to-four-bedroom condos ranging from 1,100 to 3,400 square feet, with a variety of floor plans offering unobstructed water views. Penthouses come with 2,000-square-foot private rooftop terraces, plunge pools, summer kitchens and 12-foot ceilings. The project includes a one-acre outdoor amenity deck and additional amenities including mini-bowling, billiards and card tables, a multipurpose soundproof studio for music and podcasts, golf simulator, theater lounge, club room and more.

The towers are being constructed alongside an active marina with 100 slips accommodating boats up to 100 feet. The development also has easy inlet access for water sport recreation from snorkeling and scuba diving to jet skiing, kayaking and paddle boarding.

Burke, the acclaimed restaurateur, selected Nautilus 220 as the location for his first Florida restaurant. The two-level, 7,500-square-foot waterfront restaurant with indoor and outdoor seating will feature modern American cuisine.

Kast Construction is the project’s general contractor. Interiors by Steven G. is the project’s interior designer.