HFF Secures $550M Loan For Expansion Of Luxury Retail Destination Bal Harbour Shops

Holliday Fenoglio Fowler, L.P. (HFF) has announced that it has arranged $550 million in financing for the expansion of the iconic Bal Harbour Shops, a 463,114 SF, open-air, fully leased global, luxury shopping destination anchored by Saks Fifth Avenue and Neiman Marcus along Miami Beach in Bal Harbour, Florida. The loan is one of the largest construction loans ever to close in Miami. The HFF capital markets team was led by executive managing director Manny de Zárraga, senior managing director Chris Drew, managing director Jim Dockerty and director Matthew McCormack. MetLife Investment Management’s Arun Singh, vice president for the Southeast Region, and Jay Gadsby, director, originated the loan on behalf of MetLife Investment Management.

HFF worked on behalf of the borrower, Miami-based Whitman Family Development, to place the $150 million, eight-year, fixed- and the $400 million floating-rate construction facility with MetLife Investment Management. Loan proceeds will be used to retire an existing loan and expand Bal Harbour Shops by an additional 300,000 SF, including a 57,414 SF space to be occupied by Barneys New York, which will be Barneys’ only flagship store in the southeastern United States. A three-story promenade will be added to connect Barneys to the existing palm tree-lined promenade. The renovation will also bring a new grand entrance at the northeast quadrant of the property along with an expansion of the Neiman Marcus space by 20,000 SF.

“The loan marks the official launch of the Bal Harbour Shops expansion and represents the growth and strength of Miami’s retail real estate market,” Drew said.  “As the climate shifts for many traditional retail centers across the U.S., Bal Harbour Shops maintains its position as the most successful, high-end shopping destination in Florida and one of the most productive in the world. The Shops continues to experience intense demand from both existing tenants and retailers that have been waiting years to join its roster, and we are excited that this loan will allow Whitman Family Development’s expansion plan to come to fruition.”

Situated at 9700 Collins Avenue on 17.42 acres in an exclusive oceanfront community located between the Atlantic Ocean and the Intracoastal Waterway, Bal Harbour Shops was completed in 1965 as the first all-luxury fashion shopping center and has been meticulously maintained throughout the years. Bal Harbour Shops has operated at 100% occupancy for several decades with a waiting list. In addition to the anchor tenants, the Shops is home to more than 100 of the most sought-after global, high-fashion boutiques and brands, including Chanel, Gucci, Van Cleef & Arpels, Tiffany & Co., Salvatore Ferragamo and Valentino. The destination also boasts the highest concentration of restaurants in Bal Harbour.

“We’re delighted to support the expansion of one of the nation’s leading luxury shopping centers in the U.S.,” Singh said.  “This development will support the local economy and ensure that Bal Harbour Shops remains a destination of choice for many years to come.”

Pordes Residential Oversees The Successful Sell-Out Of Peninsula Palm Beach and 101 Bay Harbor

Pordes Residential has recently overseen the sell out two South Florida developments, Peninsula Palm Beach and 101 Bay Harbor, marking the firm’s continued success in South Florida. Peninsula on the Intracoastal is a luxury, waterfront community of 40 luxury condominiums and 30 townhomes, located in Palm Beach County. For this development, Pordes created a targeted campaign for homeowners out west, resulting in the buyers largely consisting of individuals purchasing their second homes as well as homeowners moving east in pursuit of a waterfront property. Additionally, many empty nesters from the northeast were drawn to the luxurious amenities and prime location. 101 Bay Harbor is an enclave of luxury townhomes located in Bay Harbor Islands, one of the most prestigious locations in South Florida next to Bal Harbour, Surfside, Keystone Islands and Sunny Isles.

“The sellouts of 101 Bay Harbor and Peninsula are important steps in our continued expansion,” said Vice President of Sales and Operations Adam Kaufman. “We’ve customized our strategy to the local, domestic and Canadian markets, and it definitely paid off. In addition to our reach, we take great pride in our training process and passing on our methods to every agent we bring on board. We’re very hands-on with both our management and our clientele.”

In addition to these two sold out developments, Pordes Residential are also managing sales for Bijou Bay Harbor, which is currently 95% sold and the firm is handling the exclusive sales for Palm Villas in Bay Harbor Islands, a community of four-story villas located in Bay Harbor Islands. The luxury villas range from three- to- five bedrooms and have European kitchens, spacious rooftop terraces, and lush backyards. Palm Villas is a gated community located in a prestigious area with close proximity to luxury shopping destinations, beaches, restaurants, and schools.

Check Out This Marble Masterpiece Condo In Oceana Bal Harbour Asking $8.49 Million

A completely custom modern marble masterpiece located in Oceana Bal Harbour has hit the market for $8.49 million. The residence emits an abundance of natural light and offers scenic ocean views, perfect for those seeking an authentic Miami experience. The spacious turnkey residence features 4 beds, 5.5 baths and floor to ceiling glass doors that open to a large wrap around terrace. The unit also features private elevator entry into fine interior spaces including a spacious living room, Dada Kitchen with Gaggenau appliances, a large master suite overlooking the ocean, his and her master bathroom with an oversized vessel soaking tub, and custom built-in closets.

Resort style amenities at Oceana Bal Harbour include 2 pools, beach and pool service, a restaurant, tennis courts, spa, fitness center, movie theatre, and 24-hour concierge service.

Oceana, 10201 Collins Ave Unit 401, Bal Harbour is currently listed for $8.49 million with Lana Bell and Darryl Fox with ONE Sotheby’s International Realty.

Images via ONE Sotheby’s International Realty

Arte By Antonio Citterio Launches Sales In Miami's Exclusive Surfside Neighborhood

Arte by Antonio Citterio has announced its highly anticipated launch of sales in Miami’s exclusive Surfside neighborhood. Arte, which features 16 ultra-luxury residences located on an acre of pristine beachfront, rises 12-stories and is the most prestigious offering to debut in the world-class destination and is the first project in the United States by Italian master architect Antonio Citterio. As one of the most celebrated talents in architecture today, Citterio is the visionary behind the highly regarded Bulgari and Mandarin Oriental hospitality projects in Dubai, London, Milan and Bali. His new oceanfront condominium offers a rare and limited opportunity to own at one of his few residential designs in the world. Arte is located at 8955 Collins Avenue in Surfside, a coveted area nestled north of bustling Miami Beach and between exclusive Indian Creek, Bay Harbor Islands and fashionable Bal Harbour. Lauded as the next great American Riviera, Surfside is at the center of the city’s most vibrant cultural, culinary and shopping destinations.

“We are excited to be the first to introduce Antonio Citterio’s work here in the U.S. with Arte,” said Alex Sapir, Chairman of Sapir Corp LTD, whose Israel and New York-based subsidiary, SC 8955 LLC, is focused on luxury real estate and is developing the project. “The level of design, finish and detail that went into the building is unprecedented in the Miami market. Antonio is very creative and thoughtful in his work, and we feel his sophisticated aesthetic will be well received by buyers and the community.”

Residences at Arte are offered in three- to five-bedroom layouts and range in size from approximately 3,150 SF to 7,550 SF. Residences are designed for indoor and outdoor living with sweeping views of the ocean, the residences emulate a Mediterranean lifestyle with expansive terraces clad in travertine with ipe decking that seamlessly blend into modern, open living areas. Gracious kitchens feature Poliform cabinetry, Italian marble countertops and Gaggenau appliances.

Arte features a complete suite of resort-style amenities includes a 75’ indoor swimming pool, an outdoor swimming pool, a rooftop tennis court, state-of-the-art fitness center and yoga studio, sauna and steam room and a tranquil meditation pond. Additional facilities include a children’s playroom, residents’ lounge with billiards, catering kitchen for out-of-home entertaining and private temperature-controlled parking spaces. The property also features lush landscaping designed by Enzo Enea, one of the world’s leading landscape architecture firms.

Half- and full-floor residences are priced starting at $10.215 million. Sales are exclusively handled by Corcoran Sunshine Marketing Group. Closing at Arte are slated to commence in the summer of 2019.

For more information about Arte by Antonio Citterio, private showings, availability or purchasing/ leasing information please fill out the form below:

De Beers, the Legendary Home of Diamonds, Opens New Showroom At Bal Harbour Shops

The legendary Home of Diamonds, De Beers, has opened a new South Florida showroom at the Bal Harbour Shops. The new showroom marks De Beers’ third U.S. store location. The new store, full of airiness and light, will showcase wondrous pieces by De Beers, with 600 SF of space devoted to the legendary Home of Diamonds.

In celebration of its new Bal Harbour store opening, De Beers will be unveiling a new Enchanted Lotus malachite pendant in a world premiere ahead of its global launch in September. Sparkling with pristine diamonds, the serene flower blooms within verdant malachite, symbolic of abundance and growth, in natural synergy with the lush, green oasis that is Bal Harbour Shops. The Enchanted Lotus Malachite Pendant, featuring 18K white gold and approximately 0.3 carats of diamonds, will be exclusively available at the new Bal Harbour location for $2,750.

“There is much to celebrate with our reopening at the Bal Harbour Shops, the most inspiring mall in Florida” says Francois Delage, Chief Executive Officer, De Beers Jewellers. “Our clients in the US are some of our most loyal and Bal Harbour caters towards a very discerning international clientele that we wanted to delight in the right space.”

“Whilst our clients engage more and more across our digital platforms, we believe that our stores complement the overall experience and allow a very intimate and informative moment. After all, seeing the diamond with your own eyes inspires the emotion that we invite all our clients to feel. It is also here that you can benefit from the expertise and passion of our in-store Brand Ambassadors,” explains Delage.

The Revuelta Architecture-Designed Bijou Bay Harbor Tops Off Powering Towards An Expected Completion This Summer 2019

Bijou Bay Harbor, the luxury boutique condominium developed by Ability by Acierto on Bay Harbor Islands, has topped off at 75’ and is is slated for completion in July 2019. Bijou Bay Harbor broke ground in June 2017 with Coastland Construction as the general contractor for the project. Construction is estimated to cost a total of $20 million. The 9-story waterfront property at 9521 East Harbor Bay Drive was designed by Revuelta Architecture International and interior designer Adriana Hoyos, as a quiet island sanctuary with sleek lines and open spaces flooded with natural light. Bijou Bay Harbor offers 41 luxurious and private residences, including five penthouses, ranging from 900 SF to 2,100 SF. Residents will enjoy boutique island living and casual elegance with amenities that include a sky lounge with pools, fire pits, seating areas, and unobstructed intracoastal views.

“Bijou Bay Harbor’s topping off represents a major step forward for Ability by Acierto, as we further our efforts to establish our footprint in the South Florida,” stated Robert Morales, vice president of operations. “We are thrilled to play a part in redefining the skyline and are actively seeking other opportunities for development in South Florida.”

Bijou Bay Harbor is the first South Florida development for Ability by Acierto, a partnership between Conexo Inmobiliario, led by Andres Arias, and Acierto Inmobiliario, Colombia’s second-largest developer founded by Juan Carlos Gonzalez. Prices at Bijou Bay Harbor begin in the mid-$600,000s and rise to $2 million for the penthouses. The project is 95% sold.

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

Peek Inside This Choeff Levy Fischman-Designed Waterfront Mansion In Bal Harbour Which Just Listed For $24.95 Million

A Bal Harbour mansion designed by award-winning architects Choeff Levy Fischman, with interiors by designer Deborah Wecselman, has hit the market for $24.95 million. Located at 224 Bal Bay Drive, the 11,700 SF modern home has 100’ of water frontage and rare to the area, a 1,433 SF rooftop space that is solar-panel ready. The home is spread over 8 bedrooms and 9 bathrooms and was designed with floor-to-ceiling expansive sliding glass doors with curtain wall windows to complete the indoor-outdoor living experience.

The home is tucked behind privacy gates leading to a stunning shell stone motor court with contrasting grass strips. A monumental Italian Travertine stone wall extends from the driveway to the backyard pool deck. South-American Ipe wood conceals the 2-car garage and is again seen near floating steps that lead you over a Zen-like pond adjacent to a cascading water feature set on an Oolite stone backdrop. Keeping with the modern design, the architects created a cube-like second-story bedroom balcony made of Ipe that floats above a reflecting pond adding a geometric effect the residence.

224 Bal Bay Drive is full of lavish features including include a media room, lounge, multi-purpose room, a master bedroom suite with two large terraces and on one of the terraces, its own outdoor shower, a large indoor gym, elevator and 50’ infinity-edge lap pool with bright blue mosaic tile overflows into a reflective pond and connects to a smaller shallow splash pool. Lush landscape surrounds a covered terrace with firepit, reflecting ponds, floating stepping stones, and an outdoor dining area, with full kitchen and a cabana bath. The roof deck has been designed for entertaining featuring an elevated wooden deck with a custom built-in bar with tropical wood finish and custom built-in seating.

224 Bal Bay Drive in Bal Harbour Village is currently listed for $24,950,000 with Dina Goldentayer of Douglas Elliman Real Estate’s Sports & Entertainment Division.

Photos via Kris Tamburello

For more information about 224 Bal Bay Drive, private showings or purchasing/ leasing information please fill out the form below

Check Out This One-Of-A-Kind, Ultra-Luxe YoDezeen-Designed Residence In Oceana Bal Harbour

YoDezeen has revealed a brand new residence in Oceana Bal Harbour which was designed for an abundance of sunlight without sacrificing privacy. The custom designed residence features 3-bedrooms and 3-bathrooms along with 10’ ceilings, floor-to-ceiling glass, private elevator entrance, a gourmet kitchen and deep balconies offering views of the Atlantic Ocean. The color palate is centered around light grey tones with a splash of orange in the decoration, highlighting the designers specially planned and selected lighting of warm tones, which perfectly emphasizes the dominance of natural materials including marble, wood and metal.

“The ocean, the garden ... everything is full of natural color, an abundance of air,” said the Project's Chief Designer, Arthur Sharf, “so that the interior becomes a sort of background.”

Oceana Bal Harbour is one of the most high-end buildings in the luxurious Bal Harbour neighborhood. This elite residential complex spans over 2 acres, which formerly housed the Bal Harbour Club, a famous private beach club. Oceana Bal Harbour is covered in greenery and lush landscaping by Enzo Enea along with two massive sculptures of 'Ballerina' and 'Pluto and Proserpine' by the artist Jeff Koons.

For more information about this property, private showings or purchasing information please fill out the form below:

Check Out This Newly Listed Residence In St. Regis Bal Harbour Asking $8.595 Million

A lavish residence designed by Tony Ingrao, known for his design at the Baccarat in New York City, at the St. Regis Bal Harbour has listed with Bill Hernandez & Bryan Sereny of Douglas Elliman for $8.595 million. The residence features 3 bedrooms and 3.5 bathrooms spread over 3,884 SF. The corner unit offers ocean, skyline and bay views along with a large wrap-around balconies offering both ocean and city views. The turn-key residence features a flow-through layout with gourmet kitchen, dining room and large master-suite with walk-in closet. The St. Regis Bal Harbour is located across the street from Bal Harbour Shops and features resort amenities including pool, spa, state-of-the-art fitness center, restaurants, butler service, and 5 star services, amongst others. 9701 Collins Ave unit 1201 Bal Harbour FL 33154 is currently listed for $8,595,000 with Bryan Sereny & Bill Hernandez of Douglas Elliman Real Estate.

Chris Carlos Lists Fully-Upgraded Oceana Bal Harbour Penthouse With Rooftop Infinity Pool For $35 Million

Chris Carlos, the son of the family-owned Republic National Distributing Co.’s, the second-largest distributor of alcoholic beverages in the U.S., has officially listed his fully-custom Oceana Bal Harbour condo for $35 million. The price makes the condo the 2nd most expensive condo listing on the market in Miami-Dade County. Carlos purchased the residence last year for $25 million before essentially gut-renovating the entire spread. The property is scheduled for completion by end of August and when complete will feature close to $6 million worth of renovations.

“Located in the nationally recognized affluent area of Bal Harbour, this penthouse is a crown jewel featuring over 9,000 SF of reimagined and exquisitely upgraded interiors," said list agent Tony Imbesi. “Boasting 10,000 SF of a private rooftop with an enormous 50' infinity pool, spa and outdoor kitchen, the penthouse is truly a sanctuary in the sky.”

Wanting to create a level of luxury not yet seen in Miami, Carlos has added 2 additional bedrooms, high tech electrical systems and appliances throughout, Porcelain and marble tile across the entire property and a glass and wood staircase imported from oversees to offer an abundance of artistic light from the roof to the interiors. The residence in itself spans 9,370 SF inside spread over 6 bedrooms, 7 full baths & 2 half baths. The condo also offers 9,950 SF of private Rooftop Terrace with a spa, summer kitchen and a 50' infinity pool, rooftop deck raised above balcony creating an optical illusion looking straight out into open ocean views. Oceana Bal Harbour, 10203 Collins Ave #2801N, Bal Harbour is currently listed for $35,000,000 with Tony Imbesi of Douglas Elliman.