Morabito Properties Expands and Refinances Mixed-Use Wyncatcher Development in Miami’s Wynwood Neighborhood

Morabito Properties, a Miami Beach-based real estate development company led by developer Valerio Morabito, has expanded the firm’s existing Wyncatcher development in Wynwood by acquiring an adjacent warehouse located at 2150 NW Miami Court. Wyncatcher is a boutique, adaptive reuse mixed-use, creative office property located at 2413 NW 1st Avenue in Miami’s Wynwood Arts District. Morabito Properties also secured a $35 million loan with BridgeInvest, a private real estate lender, to refinance the entire assemblage including Wyncatcher I which is fully leased to Knotel and set to open this summer. Berkadia Managing Director Scott Wadler and Vice President Michael Basinski Miami secured the financing on behalf of the sponsor, Morabito Properties, the deal closed on May 29.

The newly acquired warehouse will be converted into a state-of-the-art commercial space (Wyncatcher II) with a variety of uses, ranging from event to office and retail. Designed by Vagabond Architecture, known for their work retrofitting existing buildings, the structure will join the existing two-story, 47,852 square-foot Wyncatcher I, designed by world-renowned architecture firm, Arquitectonica. Both buildings showcase exterior murals, an iconic feature of the vibrant neighborhood, by acclaimed Portuguese artist Alexandre Farto, known as VHILS.

Knotel, a flexible workspace operator owned by Newmark, one of the world’s largest commercial real estate advisory firms, signed a seven-year pre-lease deal for the entirety of Wyncatcher I and will open this summer, offering office space ranging from 3,976 square feet to 37,427 square feet, and a restaurant with 6,051 square feet of indoor space and 6,861 square feet of outdoor space. The unique structure sports elegant double-height, industrial-style windows over two stories.

“Wynwood has evolved into a cultural hub where people want to spend their days, whether it be by perusing art and retail or celebrating the next life milestone. Wyncatcher will be the community for it all,” said Valerio Morabito, CEO of Morabito Properties. “We’re grateful for our relationship with BridgeInvest to make this all possible.”

“BridgeInvest has been providing creative financing solutions for projects in Wynwood since our inception over 13 years ago,” said Alex Horn, managing partner of BridgeInvest. “Morabito Properties’ vision is both creative and discerning, and will deliver effective office and retail options as dynamic as the Wynwood neighborhood it will reside in.”

Originally an abandoned warehouse district, Wynwood has grown into a thriving haven for art, fashion, innovation and creativity, hosting over 15 million annual visitors. The neighborhood’s 50 blocks are home to leading technology and finance companies, including Spotify, Founders Fund and Live Nation. The area is also renowned for its top hospitality offerings, such as Uchi, Pastis and Michelin Bib Gourmand Doya. Its ever-growing development pipeline includes thousands of upcoming new residential units, hotel keys, office space and a new high-speed railway stop, built by Brightline, as part of the Northeast Corridor Project, the Miami-Dade portion of the Coastal Link, extending from Downtown Miami to the City of Aventura.

The Allen Morris Company Breaks Ground On Bayside Sarasota After Closing On $83 Million Construction Loan

The Allen Morris Company, and its partner, the Alaska Permanent Fund Corporation, advised by L&B Realty Advisors, has broken ground on Bayside Sarasota, a luxury rental community complete with a Michelin Bib Gourmand restaurant. The groundbreaking follows the closing of an $83 million construction loan and commenced construction on its signature Bayside Sarasota development. The loan was provided by Kennedy Wilson. Longboat Group will oversee leasing and management once complete.

Located in Sarasota, Florida, one of the State’s fastest growing areas, Bayside Sarasota is the initial phase of a broader mixed-use project in the Rosemary District, one block off of Sarasota Bay. This phase includes a 253-unit luxury rental community, along with 2,000 square feet of ground floor retail, and a future 96-unit tower with bay views that will commence later in the year.

The Allen Morris Company commenced construction on the project, with an anticipated completion date of Fall 2026. Brasfield & Gorrie is the General Contractor.

The resort-inspired community features a mix of one, two and three-bedroom residences with open floor plans, chef-inspired kitchens, and contemporary finishes, both within the units and the building itself.

The Dwell-designed building features 50,000 square feet of private amenities including a rooftop pool deck, Michelin recognized restaurant located in the lobby, state-of-the-art fitness center with a covered yoga terrace, 24-hour concierge, and is pet friendly. The private courtyard will feature a 60-foot tall native ficus tree and outdoor private dining for residents. It is a true coastal community, adjacent to Sarasota’s waterfront and designed with both indoor and outdoor amenities to take advantage of its location. FlickMars, a luxury hospitality firm, is the interior designer.

The development’s idyllic location within the City’s Rosemary District, known for its artisan cafes, antique shops and art galleries adds to the community’s already-strong appeal. Bayside Sarasota sits one block away from the city’s $200 million The Bay Park Redevelopment project which has completed its first phase and will commence on the second phase this year. The project includes the redesign of the waterfront park and performing arts center. The City’s Bay Park Redevelopment project, which includes a recreational pier and enhanced waterfront access, among other amenities, makes Bayside Sarasota one of Florida’s most desirable residential communities.

“We’re excited to partner with APFC on another best-in-class residential asset. With Bayside Sarasota, we will deliver an unparalleled residential experience with a resort-style rooftop pool, a Michelin recognized restaurant and thoughtfully appointed condo-quality residences,” says Spencer Morris, President of The Allen Morris Company.

“We are thrilled to expand our long-standing relationship with The Allen Morris Company as well as build new ones with APFC and Longboat. This dynamic location is well positioned to benefit from the positive growth and improvement happening across Downtown Sarasota and we are excited to play a role in the continued progress of Sarasota” adds Kennedy Wilson Debt Investment Group head, Thomas Whitsell.

The Allen Morris Company’s developments provide residents with the opportunity to indulge in modern living spaces in proximity to unique and evolving locations, such as Sarasota’s Bayside. The company has active developments throughout Florida and Georgia.

The Shell Bay Club Reveals First Look At Private Yacht Club

Shell Bay, an exclusive 150-acre golf destination in South Florida first catapulted onto the world stage with its eye-popping $1 million+ club membership invitation fee, has revealed The Shell Bay Yacht Club, a private 48-slip marina, featuring two 55-foot houseboats available for charters. Located on the Intracoastal Waterway, the new yacht club caters to those seeking maritime experiences in Miami without having to become a boat owner, as well as those with private vessels who have been plagued by the well-documented docking shortage sweeping the region. Shell Bay was developed by The Witkoff Group and PPG Development in partnership with Auberge Resorts Collection.

The Shell Bay Yacht Club will offer a rare luxe nautical lifestyle for people to pursue life on the water to the fullest, with everything from a dedicated dock master and concierge services to specially curated waterfront experiences like deep-sea fishing and catamaran snorkel tours. Aside from boating, residents will also have access to paddleboards, jet skis and kayaks.

Fishing is expected to be a highly sought-after experience at The Shell Bay Yacht Club given the diversity of marine species in the Atlantic Ocean and Intracoastal Waterway. Residents and members can cast a line for prized saltwater game fish as well as great tasting local fish like wahoo and tuna. Those whose efforts prove lucky with a fresh catch will be able to tap Shell Bay’s Chef to prepare the fish into a beautiful seafood dinner. The service will be customizable to residents’ culinary preferences.

In addition to The Shell Bay Yacht Club, the property is home to an 18-hole, Greg Norman-designed Championship course, which is one of the longest in South Florida and is the first new private golf course in South Florida in over 25 years. It features a two-acre practice facility including a nine-hole par three course. The gated community also offers a Racquet Club including tennis courts with all four Grand Slam surfaces, as well as pickleball and padel courts. Basketball courts, batting cages and a children's discovery playground are also onsite.

Esteemed hospitality brand Auberge Resorts Collection will open a hotel at Shell Bay with its own suite of five-star amenities and services such as resort-style swimming pools and a state-of-the-art fitness center with small-group sessions such as yoga, Pilates, and boxing.

Auberge will also service The Residences at Shell Bay, a luxury condominium tower offering 108 bespoke private residences. Residences will range from one- to four-bedrooms, beginning at $2 million. Sales and marketing are exclusively handled by Douglas Elliman Development Marketing.

Providing an unmatched lifestyle, residents will enjoy the Shell Bay Yacht Club, as well as their own private collection of ultra-luxury amenities. This includes a world-class food and beverage program led by Michelin-starred Chef Julien Jouhannaud, a full-service medical day spa, as well as a fitness center with indoor and outdoor facilities prime for personal or small-group training. Children’s amenities will keep kids of all ages happy and engaged, from a children’s play lab and creation studio to a gaming lounge, screening room with candy bar and a game room with bowling alley.

The Residences at Shell Bay is slated for completion in 2026.

Balloon Museum Set To Open in Miami June 2024

The first-of-its-kind Balloon Museum in Miami opens to the public June 22nd, allowing locals and travelers from around the world to let their imagination take flight in this immersive art experience. The pop-up installation located in Wynwood includes world renowned pieces from 20 international artists. This interactive art experience will take viewers' imagination to new heights with mind blowing inflatable installations, combining contemporary art with hands-on experience while bringing together the essence of art and culture to the bustling Miami scene.

Over 4.4 million visitors across the globe have already experienced the Balloon Museum’s mesmerizing exhibition during its limited-time runs in Rome, Paris, Milan, Madrid, Naples, London and New York City. The Museum won the prestigious BEA Best Proprietary Format award in 2022, and notably was highlighted as a can’t-miss backdrop in the Emmy-nominated Netflix favorite Emily in Paris.

The Balloon Museum will take over Wynwood, showcasing diverse artwork that explores the lightness and flight of air. Audiences will be able to soar and travel to far-off destinations, uniquely contrasted with heaviness, darkness and gravity. The Balloon Museum will present installations by Filthy Luker, Tado Cern, Myeongbeom Kim, OUCHH, SpY, Max Streicher, Karina Bobinski, Mike Shaw, Quiet Ensemble, Rub Kandy, Cyril Lancelin, Sila Sveta, Camilla Falsini, Motorefisico, Alex Schweder, Hyperstudio ,Mauro Pace, and Sasha Frolova.

Tickets to the Balloon Museum in Miami start at $29 for children and $39 for adults and are available to get on the waitlist starting today at https://balloonmuseum.world/lp-miami/

Florida Residents, Students and Military tickets start at $36

Balloon Museum produces contemporary art exhibition experiences that include the best international representatives of inflatable and balloon art. Featuring renowned artists with specific works in which ‘air’ is a distinctive element. Each individual exhibition offers unique and immersive journeys worldwide. The out-of-scale installations are meant to be touched, lived with and shared, putting the interaction with the visitor at the center of the experience.

Museum Times:

• Monday - Thursday: 1 p.m. – 8 p.m.

• Friday: 11 a.m. – 8 p.m.

• Saturday / Sunday: 10 a.m. – 8 p.m.

Inside PROFILEconnect: A Royal Retreat - Hospitality Real Estate in Miami at Queen Miami Beach

On May 21 PROFILEmiami hosted the sold-out PROFILEconnect: A Royal Retreat An Exploration into Miami Hospitality Real Estate, bringing together Miami’s hottest hospitality real estate developers, owners and operators for a lavish cocktail, PROFILEmiami’s highly-regarded Bespoke Real Estate Networking and panel experience at Mr. Hospitality’s iconic Queen Miami Beach.

The panel explored hospitality real estate in Miami, namely investing in, developing and operating commercial real estate assets with a focus on hospitality including hotels, restaurants, nightclubs, private clubs, golf courses, etc. The panel Miami’s top developers and owners Ronny Finvarb - Finvarb Group, Michael Simkins - E11EVEN Partners / Lion Development, Mathieu Massa - Mr. Hospitality / QUEEN, Alex Witkoff - Witkoff, Robert Rivani - Black Lion Investment Group and moderated by Christian Charre - Berkadia Hotels & Hospitality.

Attendees sipped custom cocktails by E11EVEN Vodka and Esquisito Tequila, plus Bennati Wines and Tripping Animals Brewery, plus indulged in bites of modern Japanese cuisine by Queen’s executive chef Mitchell Hess, while taking in QUEEN’s opulent ambiance, followed by a panel discussion. Attendees included developers Camilo Miguel Jr. Ricardo Dunin, Harvey Hernandez and Pascal Nicolai; as well as real estate celebrities Terek El Moussa and Heather El Moussa. Additionally Miami Beach Commissioner Joseph Magazine and local luminaries Andres Asion, Mike Tamzil and Simon Mass were also in attendance. This was not just a networking event; it was an experience.

Watch the full panel on YouTube:

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PMG and Greybrook Welcome First Residents To Society Wynwood

Society Wynwood, developed by national development firm PMG and Canadian-based private equity firm Greybrook, is now moving in its first residents. Located at 176 NW 25th St, the 9-story apartment community brings 318 residential units and 50,210 square feet of commercial space to the neighborhood’s epicenter, with announced retail tenants including Bodega Taqueria, Dave’s Hot Chicken, Starbucks, Chama De Fogo and Nacho Daddy. A partnership between Lion Development Group led by Michael Simkins, LNDMRK Development led by Alex Karakhanian and Tricera Capital led by Ben Mandell closed on 32,000 square feet of ground-floor retail space at Society Wynwood for $22.5 million in late April 2024.

“Society Wynwood introduces an unparalleled caliber of amenities in a multifamily building. Our intent is to deliver vibrant, purposeful spaces that make daily activities like working and exercising at home more enjoyable and exciting. Our massive coworking lab, fitness facilities, and rooftop pool and entertainment deck far surpass anything in the market. From frequent resident fitness classes and community events to bringing top food and beverage operators to the ground floor retail courtyard, we look forward to witnessing Society Wynwood become a community hub that channels the creative energy of Miami’s Wynwood Arts District,” said Ryan Shear, Managing Partner at PMG.

Society Wynwood’s entryway on 2nd Ave will be adorned by a custom experiential sculpture by world-famous artist Daniel Popper.

Layouts at Society Wynwood range from studios to three bedrooms, including several furnished “Rent-By-Bedroom” (co-living) options that represent the lowest entrypoint rents for a new luxury building in the neighborhood. Each residence features a private balcony; smart door locks and thermostats with pre-installed Wi-Fi; wood grain tile throughout; kitchens with stainless steel appliances and quartz countertops with custom Italian cabinetry; fully built-out closets with room for everything; backlit bathroom vanity mirror with large storage drawers, and specially insulated windows to block outside noise.

Society Wynwood’s collection of over 82,000 square feet of awe-inspiring amenities include a sprawling entertainment rooftop and pool deck designed to connect neighbors and foster community. The rooftop includes a first-class, full-service restaurant with dedicated elevator, a resort-style pool with lounge areas and huge hot tub, an expansive outdoor fitness field and yoga lawn, multiple grills and dining areas, and an 18 ft LED screen for watching sports and events. Indoors, residents can enjoy a large, modern gym with frequent fitness classes, a coworking lab with over 15 private conference rooms, social lounges, and a lobby with 24/7 concierge ideally designed to meet and mingle. A mobile app enables residents to manage mobile keys and guests, make payments and maintenance requests, track packages, discover and sign up for events, and more.

The property’s courtyard entrance will welcome several eateries to the neighborhood, including nationally expanding Dave’s Hot Chicken and Bodega Taqueria’s newest Miami outpost. Additional tenants include Starbucks, casual Brazilian steakhouse Chama de Fogo, and Las Vegas-based Nacho Daddy’s first Florida location.

“This Society project with PMG which sits at the center of Wynwood has been programmed to connect our residents to their surrounding community. It also brings the community into our building by providing diverse retail experiences across street level and the rooftop coupled with art activations in public areas,” said Sami Mouaket, Director of U.S. Investments & Development at Greybrook.

Society Wynwood is the latest among PMG’s growing national portfolio of Society Living apartment communities. PMG created the Society Living multifamily brand to address the insatiable demand for reasonably priced rental housing in the most desirable locations, where neighbors can connect and thrive together. Urging residents to “Choose Happiness,” Society Living focuses on creating inspiring living spaces that encourage personal growth. PMG recently opened Society Orlando in Downtown Orlando and has over 8,500 units planned; additional Society Living properties are underway in Atlanta, Brooklyn, Denver, Fort Lauderdale and Nashville, with more to be announced.

Gale Miami Hotel & Residences To Open in Downtown June 1st

Downtown Miami is welcoming a new addition to its hospitality scene with the opening of Gale Miami Hotel & Residences on June 1st. This highly anticipated development promises to enhance the vibrant urban landscape of Miami, offering a blend of luxury accommodations and high-end amenities.

The Gale Hospitality Group, known for its renowned Gale South Beach, has introduced this new property to celebrate the rich history and dynamic future of Miami. The Gale Miami Hotel & Residences pays tribute to the city's past and its landmarks, such as The Freedom Tower. Photography from the Miami History Museum will be featured throughout the rooms, honoring the opening of the original Gale location and inviting guests and residents alike the chance to explore the allure of Miami in this bygone era. 

The hotel features a variety of accommodation options, including studios and one to two-bedroom units, designed to meet the needs of both short-term visitors and long-term residents. Many of these units come equipped with full kitchens and washer-dryers, providing guests with all the comforts of home.

In celebration of its grand opening, Gale Miami is offering a special promotion with up to 25% off room rates, plus additional perks like waived destination fees and complimentary early check-in and late checkout. This offer is available for a limited time using the code 'GRANDPRO' when booking.

Keith Menin of Gale Hospitality Group expressed his vision for the new property: "With Gale Miami Hotel & Residences, we aim to redefine the benchmark for hospitality within Miami's urban landscape. We are excited to offer an unmatched guest experience that combines the energetic ambiance of Downtown Miami with carefully curated amenities and services."

Gale Miami stands out with its extensive amenities, including a 70,000-square-foot space spread over three floors that offers stunning views of Biscayne Bay and the Miami skyline. Guests can enjoy the Gale Wellness program, which features a co-ed hammam, steam room, sauna, fitness facility, yoga lounge, and spa services. The property also includes high-speed internet access, a 24-hour attended lobby, valet parking, and several dining options. Gale Miami is one of the only downtown hotels to offer its guests exclusive beach club access.

The hotel's dining facilities are particularly noteworthy, with 9,000 square feet of restaurant space on the ground floor, including an outdoor garden, an Italian concept, and a street-front restaurant. The 9th floor boasts an American steakhouse and lounge, as well as a Mediterranean-style restaurant with a retractable roof and an outdoor terrace.

For those planning events, the Gale Miami Conference Center on the 8th floor offers over 20,000 square feet of space, including conference rooms, breakout rooms, and a grand ballroom. The property also features three floors of exhibition space, making it one of Downtown Miami's largest conference venues.

Located just steps from the Kaseya Center, Port of Miami, and the Brightline, Gale Miami Hotel & Residences is set to become a key player in the city's hospitality and residential sectors.

This new addition to Downtown Miami's hospitality scene is poised to become a significant attraction, blending historical charm with modern luxury to create a unique and inviting experience for both residents and visitors.

PROFILE Exclusive Podcast with Real Estate Investor Robert Rivani of Black Lion Investment Group [Full Youtube Interview]

PROFILEmiami co-founder Demetri Demascus had the exclusive opportunity to sit down with real estate investor the founder and CEO of Black Lion Investment Group, to discuss the South Florida real estate market. We joined Robert at his beautiful home in Miami to discuss how he has taken Miami by storm, successfully investing over $250 million into Miami commercial real estate over the past several years. In this PROFILE Exclusive interview with Robert we explore the current state of the Miami real estate market, what factors are influencing the future of the market, Miami’s culinary and entertainment scene, his investment strategy, portfolio and why he moved his family to the Magic City.

Robert Rivani, President of Black Lion Investment Group, is an American entrepreneur, retail entertainment innovator and real estate visionary. The real estate and hospitality visionary has invested over $250 million into Miami real estate in the past few years and is venturing into the commercial office sector with his largest and most ambitious acquisition to date, the $62.5 million purchase of ‘The Lincoln’ in Miami Beach. Following the acquisition of ‘The Lincoln’ Robert has plans to invest an additional $50 million to reimagine the property into ‘Class X’, an innovative concept that aims to redefine luxury and service standards in the office industry. Named the ‘Rivani’, the reimagination will deliver a meticulously-designed, highly amenitized experiential office and retail property that transcends the standard, mundane office space.

Born in 1990, Rivani sold his first company–a footwear business–for $150,000 when he was only a teenager. From there, he went on to participate in day trading, only to lose most of his earnings. It was this first foray into the stock market that taught him patience and deliberation when it comes to investing. During the economic downturn of 2008 and 2009, Rivani worked at his family’s property management firm. He soon realized that there were opportunities in buying, flipping and re-selling inexpensive buildings in areas in need of development. He began doing this in Georgia, and then expanded to Wisconsin, Illinois and Texas.

Over time, he would perfect his business model and the art of the 1031 exchange. Rivani became increasingly interested in finding vacant or abandoned sites and transforming them into thriving retail and entertainment destinations. Throughout each process, Rivani always made it a goal to create ways to benefit the community. In 2014, Rivani created Black Lion Investment Group. He named it Black Lion because he feels he is the trend-bucking black sheep of the real estate world, and the lion is his favorite animal. To date, the company has transacted on over $500 million in real estate deals across the United States. Year over year, Rivani and Black Lion have consistently doubled their growth.

“I’m not your typical developer and owner, and never wanted to be. We have strong ambitions as a company, and are not afraid to take risks in this burgeoning new climate for entertainment and lifestyle real estate. As we begin to expand our portfolio, we are going to change the way it's done. I don’t follow trends. I want to set them to ensure future success,” says Robert Rivani.

Rivani sees the overlap of retail, entertainment and dining as a new frontier in real estate. Inspired by Miami’s high energy lifestyle, Black Lion presently focuses on entertainment-focused endeavors spanning from Brickell, Edge Water, Downtown, South Beach and all ever-expanding social scenes in South Florida. Through his company, Rivani has recently acquired the restaurant SLS Brickell, SLS LUX tower featuring the hot new restaurant Gekko with famed restaurateur David Grutman, Amara at Paraiso, One Thousand Museum, One Ocean, Marea and Continuum– all high profile restaurant spaces.

Furthermore, Rivani also has also developed a one of a kind property located in the heart of Wynwood, Miami’s famed creative hub. He acquired the property Wynwood Jungle to achieve this dream by dynamically changing the façade, look and feel of the center including building a 10,000 SF rooftop, all of which garnished 100% occupancy within 12 months of acquisition.

Rivani plans to invest another $100+ million into South Florida in the next year, as companies and individuals alike continue to relocate to the area from across the country. Rivani’s plans are certainly not limited to South Florida as Black Lion Investment Group has owned properties in 14 states. A historical and current profitable business model continues to be the retail power centers. Black Lion Investment Group currently owns a 300K+ SF center in New Jersey and a 100K SF center in Arizona. An early riser and a dedicated athlete (namely tennis and basketball), Rivani credits his disciplined routine for part of his success. His interests in life include spending time with his wife, traveling the world, and enjoying culinary adventures. Rivani has recently enjoyed his move to make Miami his primary home.

Phil Gutman Launches Gutman Development Marketing

Phil Gutman, a real estate visionary achieving stellar sales results, is using his more than 25 years of sales leadership accomplishments to shape a new benchmark real estate consultancy, Gutman Development Marketing. The Miami-based firm caters to developers of the area’s prime developments, including notable high-end condominiums, condo-hotel properties and residential communities.

The new company aims to fill a void in the existing local new development sector, working hand-in-hand with developers on all aspects of the sales function. Gutman Development Marketing advises developers, large or small, in terms of site selection, design elements, materials, floor plans and pricing, as well as building an in-house sales team or choosing the right brokerage and sales team, determining market demand regarding amenities and features, managing marketing and branding strategies and training sales teams. Coming on board at the earliest stages of development, Gutman Development Marketing plays an essential part in the success of a real estate project.

An expert on both the client and brokerage sides, Gutman has led the launch of key developments on both the East Coast and the western region of the U.S. In South Florida, he currently steers the achievements of the Continuum Company as managing director of sales at La Baia North, a 57-unit waterfront development with resort-style amenities located at 9481 E. Bay Harbor Drive in Bay Harbor Islands, and Continuum Club & Residences, a 198-residence luxury bayfront condominium in North Bay Village. Gutman also led sales and secured the land for La Baia South, an 8-story boutique building featuring 68 residences located at 9201 E. Bay Harbor Drive in Bay Harbor Islands. La Baia South and La Baia North are part of La Baia Bay Harbor, a development spanning two sites a few blocks away from each other.

Additionally, Gutman made news earlier this year when he helped facilitate the acquisition of an oceanfront property in Surfside by Multiplan Real Estate Asset Management for a record-breaking price of $64 million.

Previously, as president of Brown Harris Stevens Miami, a luxury real estate firm based in New York City and serving Manhattan, Brooklyn, Queens, Riverdale, the Hamptons, Hudson Valley, Connecticut, New Jersey, Palm Beach and Miami; Gutman oversaw a sales team of approximately 200 multilingual, award-winning REALTOR® professionals in Miami-Dade County. He also launched its Sports and Entertainment division, in addition to its Commercial division.

At Douglas Elliman Development Marketing, a division of Douglas Elliman Realty, Gutman oversaw a real estate portfolio exceeding $3 billion, including Miami Beach’s Canyon Ranch, 1 Hotel & Homes, Monad Terrace, and Ritz-Carlton Residences; as well as The Bristol Palm Beach.

In Las Vegas, Gutman led sales for one of the largest residential projects in the U.S.: The Cosmopolitan of Las Vegas Resort and Casino. His strategic planning, training, quality control and negotiation helped to result in the sale of more than 1,825 units in 18 months, with $1.275 billion in volume.

“As a licensed real estate broker in New York, Nevada and Florida, my education, experience and expansive network of clients and colleagues provide me with an arsenal of unique abilities to guide, consult and lead all facets of new development in various market conditions,” said Gutman. “My hands-on approach, coupled with my unwavering dedication and knowledge, ensures that Gutman Development Marketing properly manages all the sales aspects of a project, driving success for the developer while helping launch an unparalleled residential product to the market.”

“Throughout my career, I have been pleased to be a pivotal contributor to the selection process for both the sales and marketing company and the sales associates,” he continued. “My steadfast belief lies in the understanding that new development is not a one-size-fits-all scenario.”

Aztec Group Facilitates $55.6 Million Financing for Arcadia Gardens in Palm Beach Gardens

Aztec Group, a prominent real estate investment and merchant banking firm serving Florida for four decades, has announced its successful arrangement of $55.6 million in bridge financing for Arcadia Gardens, located in Palm Beach Gardens, Florida. This luxury age-restricted rental apartment community, encompassing 220 units across 10.64 acres, represents a significant investment in senior living infrastructure.

Developed in 2021, Arcadia Gardens offers residents a premium living experience coupled with a comprehensive amenity package. The centerpiece is its 15,210-square-foot clubhouse, featuring a plethora of amenities such as a fitness center, salon, movie theatre, and various sports courts including pickleball, bocce, and croquet. The community also boasts a pool, spa, walking trail, community garden, and full onsite dining facilities, ensuring residents have access to everything they need for a fulfilling lifestyle.

Strategically located in Palm Beach Gardens, Arcadia Gardens offers residents the convenience of easy access to over 2.9 million square feet of retail space within a one-mile radius. The proximity to The Gardens Mall, a renowned upscale shopping destination, further enhances the appeal of this vibrant community.

The project is managed by affiliates of the United Group of Companies based in Troy, NY, and Sina Companies of Palm Beach Gardens, FL. The United Group of Companies brings over 50 years of industry expertise to the management of Arcadia Gardens, further ensuring the success and quality of the development.

The financing for Arcadia Gardens was secured through MetLife and provides favorable terms, including full-term interest-only and a 36-month term. Peter Mekras, President of Aztec Group, emphasized the meticulous selection process, stating, “Aztec sourced multiple proposals for the financing of Arcadia Gardens and worked with the sponsors to select the capital source that could move quickly and understood the unique attributes of this age-restricted community.”

Aztec Group's success in arranging nearly $200 million in bridge financing in the first five months of 2024 underscores its expertise and commitment to facilitating transformative real estate projects.