Forté Development Locks Down $47.5 Million Construction Loan For Forté Luxe In Jupiter

Forté Development has recently secured a $47.5 million construction loan for its luxury boutique waterfront community, Forté Luxe, located in Jupiter, Florida. The loan was obtained from New York-based 360 Capital Funding, a non-conventional lender specializing in real estate financing across the continental United States. Michael Horowitz and Jordan Horowitz of Cooper Horowitz arranged the financing on behalf of Forté Development.

"We are very pleased to secure construction financing with 360 Capital Funding, at very competitive rates and terms, for Forté Luxe," said Marius Fortelni, founder and CEO of Forté Development. "This luxurious residential community offers its residents a one-of-a-kind opportunity to live at the water's edge and enjoy the ultimate South Florida lifestyle."

Featuring just 17 multi-level residences on a unique peninsula surrounded by stunning Intracoastal Waterway views, Forté Luxe is currently under construction and expected to be completed in Q4 of 2025. The community offers a range of amenities, including private boat slips for up to 60-foot vessels, a resort-style swimming pool, and sun deck with entertainment areas.

The residences at Forté Luxe will range from 3,550 to over 5,000 square feet of living space, with modern architecture and upscale features throughout. Each residence will boast expansive great room interiors with full-height glass doors and windows, private garages with grand entries, private elevators, and waterfront terraces or balconies offering stunning views of the Intracoastal Waterway. The designer kitchens will feature European-inspired cabinetry, Quartz countertops, and top-of-the-line appliances.

The project is being overseen by Alfonso Jurado for architecture, Steven G. for interiors, and KAST Construction as the general contractor. Douglas Elliman Development Marketing is the exclusive sales team for Forté Luxe. The community is located at 12450 Crystal Cove Place in Jupiter, FL 33469, offering luxurious waterfront living for those looking to embrace the South Florida lifestyle.

Renderings via We Are Visuals

For more information about Forté Luxe or to inquire about purchasing a unit please fill out the form below:

Shoma Group Closes On $17.6 Million Construction Loan For Ten30 South Beach

South Florida developer Shoma Group has announced that they have closed on a $17.6 million construction loan for Ten30 South Beach. The loan was provided by New York-based ACRES Capital Corp.

“We are very proud to secure construction financing with ACRES Capital for Ten30 South Beach as we step closer to delivering this compelling project to Miami Beach,” said Masoud Shojaee, CEO of Shoma Group. “Especially in today’s current climate, this closing is an endorsement of the market appeal of Ten30 as we continue our forward momentum bringing this attractive proposition to the Miami Beach market.”

Already under construction, Ten30 South Beach is a moderately priced, yet elegantly designed luxury retreat away from the high-rise condominium projects that have priced domestic buyers out of South Beach. Rising four stories, Ten30 South Beach will offer a curated collection of just 43 condominiums including studios, one- and two-bedroom units with expansive terraces and stylish interiors priced from the $400,000’s with low association fees of less than $400 per month.

“It has been a pleasure to work with Masoud and his team throughout the iterations of this project to bring this unique offering to Miami Beach,” said Michael Horowitz, of Cooper Horowitz, who arranged the financing on behalf of Shoma Group. “ACRES Capital immediately recognized the niche in the market that this product would serve and efficiently pursued and concluded the financing despite the current economic climate. It was a collaborative effort from start to finish, and we look forward to watching this project succeed.”

The significant project milestone comes on the heels of the project’s recent financing program announcement, which hopes to make luxury more attainable to domestic buyers by lowering the initial deposit requirement to 15%. Current financing programs also make it possible for qualified domestic buyers to attain up to 97% financing with the excess of the 15% deposit amount being used to cover closing costs, pre-paid items and possibly a portion of the original deposit being refunded to the buyer at closing. For domestic buyers looking to make the move to an exclusive yet sometimes elusive beach address, this could put Miami Beach living within reach.

“The Ten30 South Beach project was an attractive origination opportunity due in part to its targeted segment of the highly desirable South Beach market,” said Mark Fogel, ACRES President and Chief Executive Officer. “Its attainable price point and low common charges for each unit will accommodate a variety of residents, including local buyers looking to buy their first home, empty-nesters that are downsizing or those relocating from states with higher taxes. This wide appeal is augmented by strong, local sponsorship in Shoma Group, which will ensure that the property’s business plan is adeptly executed.”

Exclusively marketed and sold by Fortune Development Sales, Ten30 South Beach includes a myriad of upscale amenities including an expansive 6,000 SF rooftop deck with a rosé-colored pool, lounge, and outdoor kitchen area complete with barbecue and yoga space. Residences come with covered parking. With state-of-the-art technology and high-end finishes, each residence will offer sophisticated technology, including the Samsung Family Hub refrigerator, which allows residents to send messages, order Uber rides, play music or see inside their fridge and browse the internet for recipes using available ingredients. Italian-designed chef caliber kitchens, Bluetooth enabled keyless entry with cameras that offer complete control through a homeowner’s mobile phone, and spacious master bedrooms with a unique open bathroom concept complete Ten30’s array of amenities that tastefully create a sense of sanctuary expressed in lyrical terms.

Ten30 offers residents the style and prestige of an exclusive address surrounded by premier shopping, dining and dazzling attractions of Miami Beach. The famed Lincoln Road shopping district is just minutes away as well as top dining experiences at Sunset Harbor. Ten30 is also conveniently located steps from Flamingo Park, where residents can enjoy several activities including a state-of-the-art aquatic center, Bark Park, baseball and football stadiums, basketball and racquetball courts, soccer and softball fields in addition to a tennis center and children’s playground.

For more information about Ten30, private showings or purchasing/ leasing information please fill out the form below: