MG Developer Acquires 33 Alhambra Circle In Downtown Coral Gable, Plans New Luxury Condominium Alhambra Parc

MG Developer, one of the most active developers in Coral Gables, has acquired a parcel of land at 33 Alhambra in Coral Gables’ Northside entrance and has announced plans to build a new mixed-use condominium community. Named Alhambra Parc, the project will feature with 33 luxury condominiums and retail on the ground floor. This acquisition was made in partnership with VYV, a real estate development group with headquarters in Peru, that also partnered with MG Developer to build Gables Village.

“VYV is grateful and feels very proud of the joint venture that it has built with MG and our plans are to grow in South Florida with the support of MG,” said Cesar Paniagua, Director of VYV.

Knighthead Funding, LLC, a private mortgage lender based in New York, provided the loan. Executive Directors Jeffrey Donnelly and Dmitry Levkov of Colliers International financed this project.

“We are truly proud to further our partnership with MG Developer and VYV for this second site in Coral Gables,” said Brian Sullivan, Vice President of Knighthead Funding, LLC. “We are also very proud to be growing our portfolio of properties in South Florida.”

“We are excited to be partnering with Knighthead Funding for another project in Coral Gables,” said Alirio Torrealba, CEO of MG Developer. “We are grateful to our partners for trusting in our vision for the City Beautiful, and our commitment to elevate the City with each and every project we build,”

The new development will rise close to Downtown Coral Gables’ financial district and will be in walking distance to Giralda Plaza and several restaurants, shops and entertainment venues.

The acquisition further anchors MG Developer’s presence in Coral Gables. Alhambra Parc will complement the existing Biltmore Square enclave, and Gables Village which is in its pre-sale phase and has a new sales gallery is located at 2990 Ponce de Leon Boulevard, Suite 101. When completed in 2024, Gables Village will consist of duplexes, townhouses, and condominiums and integrate gardens and courtyards throughout an entire block, with 50 percent of the site to include lush landscaping and hidden parking garages.

The Standard Residences, Midtown Miami Now 70% Reserved, Hosts Cocktail Celebration At Sugarcane

The Standard Residences, Midtown Miami is now 70% reserved and celebrated in style overlooking the building’s future site from SUGARCCANE raw bar grill. The exclusive cocktail event was hosted by developer Carlos Rosso, Urban Robot Associates’ Giancarlo Pietri and Naturalficial’s Andres Arcila, showcasing the energy, culture, community and style that The Standard brand is known for. The evening was attended by top real estate and hospitality leaders in Miami who enjoyed The Standard’s custom cocktails, sushi and hors d'oeuvres.

The Standard Residences, Midtown Miami is the first true pied-à-terre-style project to be developed in Miami. The project is being developed by hospitality and real estate pioneers Standard International and Rosso Development, in collaboration with Midtown Development. The 12-story property blends culture, community and style with the world-class design, amenities and service that The Standard brand is known for–which to date has only been available at its hotels.

Located in the heart of Midtown, Miami’s most walkable neighborhood, the building is centrally positioned between The Design District and Wynwood and will feature 228 pied-à-terre-style residences ranging from studios to two bedrooms. The Standard Residences, Midtown Miami has tapped the industry’s best talent for this debut, including architecture by award-winning Arquitectonica, interiors by Urban Robot, and Naturalficial for landscape design.

In step with other Standard properties, residents will enjoy thoughtfully designed social spaces and amenities spanning 34,000 square feet across five floors including a lushly landscaped rooftop with a 60-foot, resort-style sunset pool, and signature rooftop restaurant and bar reminiscent of the vibe The Standard pioneered from LA to New York to London. Wellness offerings include a state-of-the-art sweat room and fitness center, an infrared sauna, an indoor pickleball court, and yoga and stretch studios. A social floor features a karaoke bar and screening room, while co-working spaces include a private boardroom and zoom rooms. A pet spa rounds out The Standard Residences’ anything but standard amenity package. Residents will also gain access to The Standard’s “Friends with Benefits” program, which earns them preferred pricing at all The Standard hotel properties around the world.

Sumaida + Khurana and Bizzi & Partners Reveal 'THE FIFTH MIAMI BEACH' Class A+ Office Designed By Spanish Master Architect Alberto Campo Baeza

Sumaida + Khurana and Bizzi & Partners, two internationally recognized real estate development firms, have received approval from the City of Miami Beach to proceed with the construction of a new Class A+ office building designed by renowned Spanish master architect Alberto Campo Baeza. The project is named THE FIFTH MIAMI BEACH and it will be Baeza’s first commercial building in the United States. Sumaida + Khurana is led by Founding Partners Saif Sumaida and Amit Khurana. Bizzi & Partners is led by CEO Davide Bizzi and Managing Director Alessandro Pallaoro, the firms expect to start construction imminently.

"We are very fortunate to have received unanimous design approval by the Historic Preservation Board of Miami Beach in less than one year since we acquired the property. We have treated THE FIFTH MIAMI BEACH as a labor of love and greatly appreciate how positively the City has responded to the design of our project. The collaboration among multiple world-class team members and stakeholders in Miami Beach has been extremely rewarding. We are excited to deliver a very special building that provides an exceptional offering to our tenants and the community," said Saif Sumaida, Founding Partner, Sumaida + Khurana.

The firms have tapped global commercial real estate firm Cushman & Wakefield to lead their leasing efforts. The building is ideally situated at the entrance to Miami Beach from the MacArthur Causeway, located in the exclusive enclave of South of Fifth, at the corner of Michigan and Fifth Street. The Class A+, LEED Certified office building will seek to take an innovative approach by delivering on the singular quality, craftsmanship and architectural pedigree that Sumaida + Khurana and Bizzi & Partners are renowned for delivering on their residential condominium projects.

“The pandemic has completely changed the relationship between employees and the built office environment. With THE FIFTH MIAMI BEACH, we have an exciting opportunity to set a new benchmark for modern office development by creating a dynamic ecosystem for tenants that is focused on both work and well-being by incorporating extensive wellness amenities within an architectural masterpiece designed by one of the world's great master architects, Alberto Campo Baeza, with an elevated interior design concept by the renowned architectural firm, Gabellini Sheppard Associates," said Alessandro Pallaoro, Managing Director, Bizzi & Partners.

World-renowned architecture firm, Gabellini Sheppard Associates is designing the interiors, award-winning firm Cube 3 is the executive architect and Miami-based Urban Robot Associates is the project’s landscape architect.

The project will be akin to an exquisite jewel box, wrapped in glass, white marble and white concrete. The biophilic design approach incorporates many elements that bring the outdoors inside and also provides expansive spaces that are ideal for tenants to design creative work environments. The building features a monumental marble lobby with 35-foot ceiling heights, 14-foot ceilings throughout office floors, open and flexible floorplans, floor-to-ceiling windows and every office includes expansive private outdoor terraces. Located in the center of the building is a large outdoor atrium that opens up all of the offices to a dramatic experience of light, air, and outdoor space. In addition, the building features multiple amenities for tenants to share including a private landscaped rooftop with expansive, unobstructed water views. This offering will be further complemented by a state-of-the-art fitness center and spa, multiple food and beverage options, and valet parking. The building will also offer advanced air quality and filtration systems that will be part of the focus on sustainability and health.

Based in Spain, Baeza has been widely recognized for his work including winning his country’s National Prize for Architecture in 2021. Some of his notable projects include the Houses Turégano and de Blas, both in Madrid, the Gaspar House, Asencio House in Cádiz, the Olnick Spanu Museum in Garrison, New York, the BIT Center in Inca-Mallorca, the Museum of Memory of Andalucía in Granada. In 2020, he won the competition to design a new bridge over the Piave River in Belluno, Venice.

Sumaida + Khurana is led by Founding Partners Saif Sumaida and Amit Khurana. Bizzi & Partners is led by CEO Davide Bizzi and Managing Director Alessandro Pallaoro. Both firms are individually known the world over for developing some of the most significant real estate projects in the world, collaborating with critically acclaimed and architects and designers. New York-based Sumaida + Khurana collaborated with Pritzker Prize winning architect, Tadao Ando to design 152 Elizabeth Street, as well as Pritzker Laureate, Alvaro Siza for 611 West 56th Street. Bizzi & Partners, which has offices in New York, Milan, São Paulo, and Tallinn, worked with Pritzker Prize winning architect Renzo Piano to design both 565 Broome SoHo in Manhattan and Eighty Seven Park in Miami. The firm also developed the Langham Hotel in New York, designed by Charles Gwathmey.

SHVO Reveals Norman Foster-Designed Class A Office On Alton Road And Lincoln Road

SHVO has revealed plans for a Foster + Partners-designed Class A office project at the former Epicure Gourmet Market & Cafe at the intersection of Alton Road and Lincoln Road. The project will rise five stories and will feature nearly 250,000 SF of total development at 1656, 1664, 1676 and 1680 Alton Road and 1677 West Avenue. Kobi Karp of Kobi Karp Architecture & Interior Design is working with Foster + Partners as the architect of record. The project was advanced following The Miami Beach Planning Board voting in favor of transferring city land known as Alton Ct, the back alley between Lincoln Road and 17th St. to the developer.

Foster + Partners is led by Pritzker Prize-winning architect Lord Norman Foster and also designed Faena House as well as the new Safra National Bank headquarters, at currently under construction at 3050 Aventura. SHVO, led by Michael Shvo, is also redeveloping the Raleigh Hotel on Collins Avenue into a Rosewood Hotels & Resorts-branded hotel and condo tower.

Renderings via Foster + Partners

THE ESTATE COMPANIES GRANTED SITE PLAN APPROVAL FOR SOLESTE POMPANO BEACH LUXURY MIXED-USE RENTAL COMMUNITY

The Estate Companies (EIG), a leading developer of luxury multi-family projects throughout South Florida, has obtained site plan approval from the City of Pompano Beach for Soleste Pompano Beach, an eight-story, mixed-use community with 253 luxury apartments and 4,000 square feet of commercial space at 208 N. Federal Highway in Pompano Beach.

“We are extremely excited to bring this project to the City of Pompano Beach and thank the city officials, planning and zoning board, and staff for their confidence and support,” stated Nicholas Diaz-Silveira, senior development associate at The Estate Companies. “This community-oriented development will provide a truly enhanced lifestyle experience for residents through our vast collection of luxurious amenities and social components at an attainable price point.”

Ranging in size from 450 to 1,050 square feet, Soleste Pompano Beach will include studio apartments, one- and two-bedroom units, and live-work units with a combination of residential and business space. A parking garage will include 367 spaces with another 11 parallel parking spaces at the ground level.

The Estate Companies is known for its Soleste Living brand portfolio of luxury multi-family rental developments throughout South Florida, all of which feature health and wellness offerings and social components. Soleste Pompano Beach will include a resort-style pool and amenity deck with fitness center on the sixth floor and public open space with a picnic area.

Soleste Pompano Beach is situated on one of South Florida’s main arteries, U.S. 1, just north of East Atlantic Boulevard, and in close proximity to many local attractions including the beach and a myriad of entertainment and dining options. The project is slated to break ground toward the end of Q3 2022.

The Estate Companies has numerous other projects in various stages of development throughout the tri-county region including Hialeah, Spring Gardens, North Miami Beach, Hollywood, Dania Beach, Riviera Beach, and West Palm Beach.

Italian Developers Capture South Florida

South Florida, the tropical paradise we know and love, can be a challenging business environment for residential developers coming from overseas.

So, it’s great to report on a company with strong European roots that continues to make its mark in the region. Coral Gables-based developers The Calta Group, are market leaders with over $150 million in its development project pipeline spread across South Florida’s most prestigious markets. The Calta Group’s projects are diversified between ultra luxury single-family residential and Class A multifamily properties.

“Post-pandemic South Florida’s appeal has grown immensely, and a new crop of buyers and renters have emerged,” says Gaetano Caltagirone, president and co-Founder of The Calta Group. “We cater to domestic and overseas buyers -- and now renters -- who appreciate functional design, as well as smart and sustainable detail and finishes in their homes,” explains Ignazio Caltagirone, CEO & co-Founder of The Calta Group.

Multilingual globetrotters Gaetano and his brother Ignazio have extensive development experience in one of Italy’s most prominent real estate dynasties, having completed upwards of $1.5 billion in transactions. They bring a refined European sensitivity to building homes that fit harmoniously into the local environment.

Beginning in South Florida in 2010, the family-owned firm has weathered tumultuous real estate cycles while growing their business. They have built an impressive multidisciplinary team, which approaches each project with an exceptional pursuit of excellence. Coming from Italy, the Caltagirone brothers emphasize attention to detail. “We focus on delivering high-level finishes using the best materials and consider everything from lighting placement, to quality doors and kitchen hardware. Incorporating sustainable solutions into our projects is also a given,” says Ignazio Caltagirone.

The Calta Group’s success is reflected in a portfolio of ultra-luxury custom and spec single-family homes in Miami Beach, Coral Gables, South Miami and Pinecrest. They develop highly desirable homes that lead their respective market with record sales.

The company recognizes that single-family buyers, both domestic and new arrivals, appreciate a distinctly Florida vibe that makes their year-round residences feel like a vacation home. Many of the homes include resort-style amenities such as a pool, gym, saunas etc. “These amenities in a tropical environment make a home the ultimate sanctuary,” notes Gaetano Caltagirone.

The Calta Group has diversified into multifamily development and expanded its geographical footprint with the recent acquisition of a 180-unit multifamily development site in Hollywood, Florida. Located on Hollywood Boulevard, with proximity to Hollywood’s commercial center, the project will appeal to young professionals and their specific lifestyle needs. “We’re going to offer residents a fresh perspective on urban living with amenities suited to evolving tastes and preferences and of course, our signature attention to detail,” says Iganzio Caltagirone. Unit sizes will be smaller than comparable apartment buildings, but more efficient, and with more common area spaces that appeal to the resident demographic. “Younger people are not looking to live in these spaces long term. They don’t necessarily want to spend much time in their apartments and prefer common areas.” Amenities will include an onsite business center so residents can simply walk downstairs to work, as well as a dog park and dog-washing stations.

The Calta Group is actively pursuing multiple multifamily development projects in South Florida’s burgeoning and bustling neighborhoods. As recently featured in The Miami Herald, the firm plans new projects in the Little River neighborhood, catering to area workers next.

This article was done in partnership with The Calta Group

PMG and YUPIX Expand Partnership To Launch New Projects In Meta-Reality

YUPIX, an immersive technology platform that is revolutionizing the real estate industry, has expanded their partnership with nationwide developer Property Markets Group (PMG) following unparalleled sales in their first project together, E11EVEN Hotel & Residences, co-developed by E11EVEN Partners. This second phase in the ongoing partnership puts four exclusive new residential towers across Miami in front of high-net-worth buyers through multisensory meta-reality tours before construction begins.

Data from YUPIX’s meta-reality tours with PMG have shown a high sales conversion rate above 90% in multi-million dollar residences. A testament to the technology’s power to influence decision making, over $700 million were generated in direct sales over a 5-month period as a result of the YUPIX tours for E11EVEN Residences.

“Our partnership with YUPIX has been extremely successful and we are excited to expand it to our other projects,” said Ryan Shear, Managing Partner of PMG. “YUPIX’s immersive experience is one of the many reasons why E11EVEN Residences Beyond has been so well received. Virtual Reality and meta technology are tools that help us as developers work more efficiently and help buyers make more informed decisions.”

YUPIX’s cutting-edge technology will be on display in each building’s sales gallery and pop-up activations, allowing prospective buyers to interact with meta-reality simulations of a tower’s opulent amenities, panoramic views, and high-design residences. Using high-definition headsets and an acute attention to detail, the tours allow participants to gain a deeper perception of each development - like walking through various unit layouts and visualizing customized finishes. With Miami a booming market for international buyers, YUPIX showcases projects to a global audience by offering tours in cities around the world - from Dubai and New York to Mexico City and Nassau.

“Our technology’s hyper-realistic content offers users the opportunity to experience a product from anywhere in the world before construction even begins,” said Patricio Navarro, CEO of YUPIX. “It disrupts the industry’s traditional sales process; allowing developers to sell the most expensive units and penthouses before breaking ground, which is historically unheard of.”

The YUPIX Arena is located at 2811 NW 5 Ave., Miami, FL 33127, and offers tours by appointment only.

Okan Tower Anchored By Hilton Hotel Breaks Ground In Downtown Miami

Okan Tower, the new Downtown Miami megaplex, with residences anchored by a Hilton Hotel, broke ground on Friday, June 17 with all the fanfare of a major international milestone, attended by a who’s who of the business, political, civic, hospitality and real estate brokerage community. Okan Tower represents the largest Turkish investment in the United States with a design inspired by the country’s native flower, the tulip.

Notable dignitaries in attendance included City of Miami Mayor Francis Suarez, Binali Yildrim, Former Prime Minister of Turkey, Murat Mercan, Turkish Ambassador to the United States, Turkish Consulate of Miami Feyza Barutcu Altug, Burc Ceylan, Former Turkish Consulate of Miami, Miami Police Chief Manuel Morales, Commissioner Ken Russell, and Fortune International CEO, Edgardo Defortuna.

Okan Tower is located at 555 North Miami Avenue and marks the first U.S. development for Okan Group who oversees an extensive portfolio of renowned mixed-use projects that has earned the firm a global reputation in the construction, banking, textile, production and tourism industries, among others.

The 70-story Okan Tower is set to be one of Miami’s tallest towers at 902 feet once complete in 2026. The tower features 163 Sky Residences with exclusive owners-only amenities, a 316-key Hilton Miami Bayfront Hotel with a full suite of amenities and entertainment areas, 236 Short-Term Rental Residences powered by Hilton Hotels & Resorts, and 64,000 square feet of ‘Class A’ office space.

“We are enormously proud to celebrate this momentous achievement and commemorate the start of construction for Okan Tower,” said international property magnate and developer of Okan Tower, Bekir Okan, Chairman of Okan Group. “It’s an honor and privilege to be delivering our first major mixed-use project in Miami. Our vision for Okan Tower was to bring something truly unparalleled to the area and introduce a new paradigm for living in Downtown. We’re very grateful to all of the city officials who have supported the project and share in our vision for the future of Downtown Miami.”

Okan Tower is exclusively marketed and sold by Fortune Development Sales. Okan Tower was designed by internationally renowned architecture firm Behar Font & Partners who’ve given it a striking curvature façade inspired by the Turkish national flower, the tulip.

Amenities include a ground floor arrival entrance with dedicated 24-hour reception and concierge, a 70th floor rooftop pool and sky deck with private cabanas featuring sweeping views of downtown and Biscayne Bay, and an additional 12th floor lap pool with clubroom and indoor and outdoor lounges. Buyers will also have access to a state-of-the-art health and fitness center with a yoga studio, Peloton® bikes and interactive fitness MIRROR®, as well as a dedicated wellness spa with sauna, steam and treatment rooms. A fully-equipped children’s sensory and play room, cutting-edge technology theater, and wine cellar and owner’s lounge are some of the other extraordinary features available that add to the range of the lifestyle amenities.

“We’re thrilled to mark the official groundbreaking of Okan Tower and celebrate the tremendous momentum that has been generated since we took over sales last fall. The feedback from buyers worldwide has been phenomenal, and it is a testament to Okan Group, who envisioned a true beacon for Downtown Miami,” said Edgardo Defortuna, President and CEO of Fortune International Group. “From the endless array of amenities to superior finishes and designs, Okan Tower presents an opportunity for investment that simply cannot be missed.”

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

Related Companies and Swire Properties Reveal One Brickell City Centre Supertall Office Tower

Related Companies and Swire Properties have revealed plans for One Brickell City Centre, a new supertall office tower which will be adjoined to Brickell City Centre. Construction is expected to start in 2023 and the tower will be the tallest commercial tower in Florida upon completion. One Brickell City Centre is designed by Arquitectonica and will offer 1.6 million SF of office space as well as the largest floor plates for a Class A office tower in Miami.

The tower will be located at 700 Brickell Avenue and 799 Brickell Plaza and will be connected to Brickell City Centre, which features over 500,000 SF of shopping, dining and entertainment and was developed by Swire Properties. The announcement signifies strength and growth in the Miami office market as the city continues to attract top technology and finance companies from high-tax states such as California and New York.

Other supertalls coming to Miami include Waldorf Astoria Hotel & Residences Miami which was recently issued the first vertical construction permit for a supertall in Florida. The tower is nearly sold-out and is being developed by PMG and Grey brook Realty Partners, Mohari Hospitality, S2 Development and global hospitality company Hilton (NYSE: HLT). Another is MAJOR, a Major Food Group-branded luxury condo tower at 888 Brickell Avenue being developed by JDS Development and Major Food Group and Related Companies has also been quite active in the Palm Beach office market.

New-To-Market Insurance Firm A-CAP Inks Lease at OKO Group's Class A-Plus Office Tower 830 Brickell

As financial, professional services, technology and other major corporate firms look to establish their presence in South Florida, A-CAP, a premier insurance and financial services company with over $6 billion in assets under management, will become the latest company to debut its new office at 830 Brickell in Miami’s Brickell Financial District. The 55-story, 640,000 square foot class A-plus office tower, which is currently under construction, is being developed in partnership by OKO Group and Cain International. Headquartered in New York with offices around the country, A-CAP signed a full floor, 20,000 square-foot lease for the building’s 35th floor.

A-CAP has become the latest financial services firm to lease space at 830 Brickell, joining private equity firm Thoma Bravo, CI Financial, aviation finance firm AerCap, and Marsh Insurance. 830 Brickell is already more than 60% leased ahead of its late-2022 completion and has attracted additional top-tier office users, including Microsoft, WeWork, and others. The tower’s leasing team is actively negotiating terms and entertaining interest from prospective tenants whose space requirements exceed the balance of the building’s remaining inventory.

“A-CAP’s decision to open a Miami office at 830 Brickell reaffirms the tower’s position as the premier location for financial firms and talent in the South Florida market,” said Vlad Doronin, Chairman and CEO of OKO Group, and Jonathan Goldstein, CEO of Cain International. “830 Brickell’s growing roster of innovative tenants has shaped Brickell into one of the most desirable office submarkets in the United States and will serve as a magnet for other finance, investment, tech, and professional services firms looking to make the move here.”

“A-CAP is excited to open its new office at 830 Brickell. The building is an A-plus facility and is located at the heart of Miami’s Financial District. We look forward to calling 830 Brickell A-CAP's new home,” said Kenneth King, Chairman and CEO of A-CAP.

830 Brickell’s ownership was represented by Cushman & Wakefield’s Brian Gale, Ryan Holtzman and Andrew Trench. A-CAP was represented by Jennifer Goldstein of Douglas Elliman Real Estate.

“The new-to-market leasing activity we’re seeing for Brickell/Downtown Miami’s Class A market represents how a growing number of companies around the world are looking to establish or expand their footprint in South Florida, with 830 Brickell as the trophy address of choice. What's interesting about A-CAP's deal is that the firm expanded to a full floor after realizing more folks wanted to move to Miami, which we believe we’ll continue to see as Miami grows as a global gateway city. When you factor in tax savings, the quality of life benefits, and diversity of our talent pool, it’s no surprise why people and companies are relocating here,” said Ryan Holtzman of Cushman & Wakefield.

830 Brickell was designed by renowned architecture firm Adrian Smith + Gordon Gill, with interiors by Italian architecture and design company Iosa Ghini Associati.

The tower’s amenities will include a rooftop bar/lounge and restaurant – with menus developed alongside a three-Michelin-starred chef – showcasing expansive views of the City and Biscayne Bay, a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafeìs and street-level retail. Multiple transit options are nearby, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes and bay access points. Additionally, some of Miami’s top residential and lifestyle-driven neighborhoods are situated just minutes away, such as Miami’s Design District, Wynwood, Edgewater and Miami Beach.