The Calta Group Locks Down $30 Million Construction Loan For Coral Gables Townhomes 'Via Veneto'

The Calta Group, a real estate, development, and construction company led by brothers Ignazio and Gaetano Caltagirone, announced today that they have closed on a $30 million construction loan from Banesco USA for Via Veneto. The financing will fuel the development of Via Veneto, a collection of 10 ultra-luxury townhomes located in the heart of Coral Gables. Groundbreaking for this iconic project, which pays homage to Coral Gables' glorious past while introducing state-of-the-art grandeur, is slated for Spring 2025.

The sophisticated boutique project will feature 10 three-story townhomes, each offering more than 5,500 square feet of living space. Each residence offers four oversized bedrooms, four and a half baths, and expansive entertainment and living areas. Additional features include gourmet kitchens designed by Mia Cucina, renowned for its high-end Italian furnishings, and thoughtfully designed outdoor spaces with private terraces and summer kitchens overlooking a picturesque courtyard, providing an ideal blend of indoor and outdoor living.

Drawing inspiration from the neoclassical Mediterranean colonial style, Via Veneto’s exteriors combine timeless southern European elegance with modern luxury. Architectural details such as recessed entry porticoes, wrought-iron-inspired balconies, and intricate stonework complement Coral Gables' historical charm.

Each residence is uniquely distinguished by its own entry garden and façade. Within the landscaped development, residents will enjoy a trellised arched entryway, a paved motor court, and private carports alongside expansive four-car garages.

Priced from $5.7 million, Via Veneto is designed by renowned architect Nelson de Leon with interiors by Sensi Casa. The modern Mediterranean townhomes offer the added convenience of an elevator accessing all three levels.

“This construction loan represents a monumental milestone in making Via Veneto a reality,” said Gaetano Caltagirone, Co-Founder of The Calta Group. “We are proud to partner with Banesco USA, a respected leader in construction lending, to bring to life the most sophisticated project ever built in Coral Gables. Via Veneto is more than a development; it represents a culmination of our life experiences, passion, and a quest to exceed any level of sophistication Coral Gables has ever seen. This project is a legacy, a landmark that will become as iconic as The Biltmore Hotel, designed to fulfill the needs of an influx of discerning buyers attracted to this vibrant area.”

Banesco USA, an independent Florida state-chartered bank with $4.17 billion in assets and six locations between South Florida and Puerto Rico, has a strong reputation for serving a diverse clientele including the commercial and real estate sectors, small and middle-market businesses, and operating companies.

“At Banesco USA, we are committed to fostering exceptional projects that enrich the communities we serve,” said Calixto García-Vélez, President and CEO at Banesco USA. “Via Veneto exemplifies innovation and elegance, and we are proud to collaborate with The Calta Group to bring this exceptional development to Coral Gables.”

“We are proud to partner with The Calta Group on Via Veneto,” added John Cedres, Vice President – Corporate Lending Officer at Banesco USA. “This investment reflects our confidence in the strength of the Coral Gables market and The Calta Group’s track record of delivering exceptional developments that resonate with high-end buyers.”

Advisory services were provided by Jason Shapiro of CRE Capital Group.

Located at the intersection of Sevilla Avenue and Palermo Avenue, at 915 Palermo Avenue, Via Veneto offers unparalleled access to Coral Gables’ iconic landmarks, including The Biltmore Hotel, Venetian Pool, and Miracle Mile, celebrated for its boutique shopping, dining, and cultural attractions. Residents will also benefit from proximity to top-rated schools, parks, golf courses, recreational facilities, and Miami International Airport, making it an ideal choice for luxury buyers seeking convenience and sophistication.

Marketing and sales for Via Veneto are exclusively handled by Judy and Nathan Zeder, the high-powered mother/son duo with The Jills Zeder Group of Coldwell Banker Realty – the nation’s number one team as recognized by the Wall Street Journal.

Terra Locks Down $291 Million In Permanent Financing for Phase 1 Of 38-Acre Centro City In West Miami Dade

Coconut Grove-based development firm Terra, led by David Martin, has secured a total of $291 million in permanent financing for the newly completed first phase of Centro City, a 38-acre mixed-use development located in the center of Miami-Dade County, just west of Little Havana.

JVP Management has issued a $187 million loan for the development’s multifamily residential component. Hudson Bay Capital has issued a $104 million loan for the retail component. The two loans will be used to pay off the development’s existing construction financing, which was provided in 2022 by Apollo Global Management and Mack Real Estate Credit Strategies.

Now complete, Centro City’s first phase includes a total of 350,000 square feet of revamped and newly built retail space, along with three 8-story multifamily buildings with 470 market-rate apartments. Leasing is now underway for the development’s residential component and tenants are expected to begin move-ins this March.

A Walker & Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the transactions. Holland & Knight partners Joe Dewey, Brett Holland, Shawn Amuial and Shaina Kamen, and associate Brian Piper, led the firm’s representation of Hudson Bay Capital.

"Securing long-term financing for Centro City represents a significant milestone, not just for Terra but for the South Florida real estate market as a whole," said David Martin, CEO of Terra. "This project embodies our vision of creating vibrant, sustainable communities that enhance the way people live, work, and connect. Centro City’s completion will provide much-needed housing options, state-of-the-art retail experiences, and community spaces in the heart of Miami-Dade, setting a new standard for mixed-use developments in the region. We are excited to continue building momentum with future phases that will further contribute to the area’s growth and vitality."

Arquitectonica’s vision for the development’s residential component includes multifamily buildings lining the perimeter of the property featuring a series of courtyards, pool decks and lushly landscaped sidewalks. Market-rate units – priced from $2,500 per month – range from studios to two-bedroom apartments measuring between 500 and 1,250 square feet in size. Community amenities include multiple pools, poolside cabanas, barbecue grill areas, a children’s playground, a dog park, resident lounges, game rooms, and more.

The development’s retail component, which included the redevelopment of the property’s existing Central Shopping Plaza, is anchored by a 100,000-square-foot Target and is 95% leased to new and existing tenants including Ross Dress for Less, DD’s, Fresco Y Mas, Walgreens, and Bank of America. Designed by RSP Architects, the reimagined shopping center has been upgraded with a newly conceived façade, common areas, landscaping and signage along with the construction of new retail outparcels.

All told, Centro City’s master plan will come alive in multiple phases and include up to 1,200 market-rate residential apartments, green space for residents, a newly reimagined shopping center with lifestyle-oriented retail and restaurants, a Class A office building, and a Mater Academy K-8 Charter School. Construction of the development’s second phase, which will include approximately 518 multifamily apartments, is expected to commence later this year.

Centro City’s location in West Little Havana – on the northwest corner of NW 7th Street and NW 37th Avenue – is near some of Miami’s largest employment centers, including Miami International Airport, the planned Inter Miami soccer stadium, the Coral Gables Business District, and Blue Lagoon Office Complex. Additionally, the property is across the street from the historic Magic City Casino gaming and entertainment venue, and less than two blocks from the 836 Expressway, providing unparalleled access.

Terra’s portfolio of newly completed mixed-use commercial and multifamily developments across South Florida includes Grove Central, a transit-oriented mixed-use development with residential and retail uses in Coconut Grove; Pines Garden at City Center, a garden-apartment community in Broward County’s City of Pembroke Pines; Natura Gardens, a multifamily community in Northwest Miami-Dade County; and Doral Atrium and Doral Square, two lifestyle-driven retail developments in the City of Doral. Terra is also currently developing Upland Park, a $1 billion mixed-use transit-oriented community that will transform West Miami-Dade County’s Dolphin Park-and-Ride/Transit Terminal Facility into a 47-acre multimodal transportation hub with residential, retail and commercial uses.

One Thousand Group and Terra Secure $285 Million Construction Loan For Villa Miami

One Thousand Group and Terra have secured a $285 million construction loan to bring Villa Miami to life in Miami’s East Edgewater neighborhood. As the first-ever residential tower branded by the world-renowned Major Food Group (MFG), the 650-foot-tall waterfront condominium is set to become a new architectural landmark on Biscayne Bay featuring 70 private residences, a helipad, and a distinctive copper-colored exoskeleton designed by ODP Architects. Construction of Villa Miami broke ground earlier this month and is slated for completion in 2027.

The financing was provided by TYKO Capital, which is backed by Elliott Investment Management and led by Adi Chugh. TYKO is a multi-billion-dollar commercial real estate private equity and private credit investment management platform. Among the notable projects that the firm has provided financing for in New York City and Miami are Manhattan's Flatiron Building, One High Line’s luxury condos, Miami's St. Regis Residences, and the 830 Brickell Class-A office building. Financing was arranged by Walker & Dunlop’s Keith Kurland and Jordan Casella who also recently worked with Terra on the $170 million construction loan for the first phase of the firm’s $1 billion mixed-use project near Sweetwater’s Dolphin Mall, Upland Park.

“The financing secured for Villa Miami underscores the demand for an exceptionally curated residential experience within an intimate, boutique setting,” said David Martin, CEO of Terra. “Today’s lenders are drawn to best-in-class projects led by trusted teams with a proven track record. Villa Miami unites top-tier talent in a distinctive collaboration, creating a landmark residence in Edgewater—one of Miami’s most central and connected neighborhoods. This project reflects the evolution of Miami’s luxury condo market, which now caters to a discerning buyer demographic with a refined knowledge of brand ethos and the market.”

Set to rise 650 feet and 56 stories, Villa Miami celebrated its groundbreaking on December 5th during Miami’s Art Week. The project will house only 70 ‘estate-style’ residences, each featuring expansive full- and half-floor layouts with sweeping 360-degree views of Biscayne Bay and the Miami skyline. With residences starting at $5 million, Villa Miami’s units range from 3,000 to 6,000 square feet. Completion is anticipated in the fourth quarter of 2027.

“As branded residences continue to grow, they are redefining luxury by integrating the expertise of food and hospitality leaders like Major Food Group,” said Kevin Venger, Co-Founder of One Thousand Group. “With its prime waterfront location, striking architecture, and unparalleled amenities, Villa Miami sets a new benchmark for artistry, innovation, and sophisticated living, cementing Miami’s status as a global design and lifestyle hub.”

Edgewater has become increasingly attractive to Northeastern buyers drawn to its central location, close to sought-after neighborhoods like the Miami Design District, Midtown, Downtown and Miami Beach. These areas offer some of the city’s most desirable and walkable lifestyle destinations, with top-rated dining, high-end boutique shopping and cultural hotspots. Villa Miami will also be home to a new Major Food Group’s restaurant concept opening on the ground floor.

Villa Miami marks MFG’s debut in residential development. Co-founded by hospitality visionaries Jeff Zalaznick, Mario Carbone, Rich Torrisi and Miami partner Alex Pirez, Major Food Group brings its signature high-end dining experience directly to residents with Villa Miami’s Copper Club, an exclusive private club spanning multiple floors which houses the tower’s exclusive amenity suite.

The interiors at Villa Miami are crafted by Vicky Charles of Charles & Co., known for her work with high-profile clients like Sony Music, Goop and celebrities such as George and Amal Clooney, Ashton Kutcher and Mila Kunis, and David and Victoria Beckham. Inspired by Villa Miami’s bayfront location, Charles designed interiors that reflect the romance of waterfront cities like Venice and the French Riviera, reimagined with a modern Miami flair.

Villa Miami’s development team is behind some of Miami’s most iconic residential towers. Terra, led by David Martin, recently delivered Five Park Miami Beach and Mr. C Residences Coconut Grove, and has previously completed residential developments including the Renzo Piano-designed Eighty Seven Park, the Rem Koolhaas/OMA-designed Park Grove, and the Bjarke Ingels-designed Grove at Grand Bay towers. One Thousand Group’s portfolio includes the Zaha Hadid-designed One Thousand Museum tower, Ten Museum Park, and Regalia on the Ocean. Additionally, the firm just recently acquired a nearby Edgewater site for a Kohn Pedersen Fox-Designed tower.

Renderings via Binyan Studios

For more information about Villa Miami Residences or to inquire about purchasing a unit please fill out the form below:

Related Group, Rockpoint and Two Roads Development Secure $424 Million Construction Loan For Rivage Residences Bay Harbour

Related Group (Related), Rockpoint, and Two Roads Development have closed on $424 million in financing for the construction of Rivage Residences Bal Harbour (Rivage). The loan was provided by TYKO Capital, a multi-billion-dollar commercial real estate investment management platform led by Adi Chugh.

As the first new ultra-luxury condo tower in the exclusive Village of Bal Harbour in more than a decade, Rivage has seen robust demand since its unveiling in January of 2023. The strong sales pace has resulted in more than $100 million in sales over the last 60 days. Construction began in September 2024, with delivery expected for 2027.

“We envisioned Rivage as an unparalleled jewel of luxury and service, surpassing even the most prestigious residential offerings in this iconic community,” said Nick Pérez, President of Condominium Development at Related. “With TYKO’s invaluable support, we are poised to bring that vision to life, once again setting a new standard in one of the world’s most competitive real estate markets.”

“We welcome the opportunity to have the TYKO team work alongside Related, Rockpoint and Two Roads to bring Rivage to Bal Harbour,” said Dan Domb, Managing Member at Rockpoint. “With construction and sales both well underway, we look forward to delivering this unique luxury residential property in the supply-constrained greater Miami market.”

Rivage is nestled between the Intracoastal Waterway and 200 feet of uninterrupted oceanfront, immersing residents in Miami Beach’s breathtaking natural beauty. Comprising just 56 sky villas, the boutique condominium features world-class designs by the award-winning architects Skidmore, Owings & Merrill (SOM) and interior design firm Rottet Studio. Each residence reflects organic influences, with open-concept layouts that flow seamlessly into expansive living areas and oversized terraces with unobstructed views of the Atlantic Ocean and Biscayne Bay. Designed to provide a single-family home experience, the residences range from 3,300 to nearly 13,000 square feet and include both in-unit elevator access and private parking garages. Sales and marketing for Rivage Bal Harbour is exclusively overseen by Douglas Elliman Development Marketing (DEDM).

A focus on wellness connects the more than 25,000 square feet of on-site amenities, including a state-of-the-art fitness pavilion with panoramic views; a hammam spa complete with hot/cold plunge pools and private treatment rooms; and pickle and paddle ball courts surrounded by lush landscapes designed by Swiss design firm Enea Landscape. Residents and guests can also unwind with relaxed options, from private, chef-driven food and a cocktail lounge to a VR game simulator and a kids' playroom. Resort-style services, including a 24/7 residential butler and dedicated lifestyle concierge, round out the package and ensure all residents’ needs are met.

“Rivage Bal Harbour is destined to become a landmark in luxury, a place where exceptional design and prime location meet,” said Taylor Collins, Managing Partner at Two Roads. “With this development, we’re raising the bar for what high-end living can be in South Florida, and we’re looking forward to delivering a property that residents will cherish and celebrate.”

“This relationship represents not just a financial backing, but a shared commitment to creating a residential experience that exceeds even the highest standards,” says Adi Chugh, Founder and CEO of TYKO Capital. “It’s a pleasure to join such an exceptional project team. We’re excited to bring this once-in-a-lifetime development to life and to witness how it will elevate Bal Harbour to even greater prestige.”

The Village of Bal Harbour has been an enclave for the elite since its establishment in 1929. Located between iconic South Beach and Sunny Isles, the waterfront community has long been a favorite for snowbirds, offering easy access to the world-famous Bal Harbour Shops as well as the very best of South Florida.

Renderings via ARX Creative

For more information about Rivage Bal Harbour or to inquire about purchasing a unit please fill out the form below:

Witkoff Group and PPG Development Lock Down $273 Million Construction Loan For Shell Bay

Witkoff Group and PPG Development have closed on $273 million in construction financing for Shell Bay, a private 150-acre, Mediterranean inspired Miami enclave featuring forthcoming Auberge-branded residences and a hotel, as well as the region’s first private golf club in decades. The financing was provided by J.P. Morgan and BDT & MSD Partners, two premier financial institutions who both have longstanding relationships with the project’s developers. Faisal Ashraf of Lotus Capital Partners represented the sponsors on the transaction.

“We’re proud to work with two of the leading real estate lenders in the United States that believe in our vision,” said Alex Witkoff, Co-Chief Executive Officer of Witkoff Group. “With 150 acres of land, Shell Bay represents a last-of-its-kind opportunity for waterfront new development of this scale in South Florida. The residences will be the most extraordinary and amenitized in the area.”

Pearl and Michael Herman’s Premium Capital purchased the property in 2018 and partnered with visionary developers Steven and Alex Witkoff to build Shell Bay Club and the Auberge Hotel and Branded Residences.

“The lifestyle we’re developing at Shell Bay is second to none,” said Ari Pearl, Founder and President of PPG Development. “Achieving this important milestone is a marker of Shell Bays success, and we value the trust our lenders have in us.”

The closing of the loan comes just before the groundbreaking of The Residences at Shell Bay, a 20-story condo tower serviced by Auberge. Featuring architecture by Kobi Karp and interiors by AvroKO, The Residences at Shell Bay is imagined as an oasis for those who live exceptionally. While the 108- residence tower is expected to open in 2027, residents already have immediate access to the amenities within Shell Bay’s idyllic private club setting. The opportunity to enjoy exclusive sporting and leisure experiences in advance of a building’s completion is a rare and hugely appealing draw for clientele in today’s new development market.

Currently open at Shell Bay and available to future residents is a private championship golf course designed by World Golf Hall of Famer Greg Norman, a 12-acre practice facility, nine-hole Par 3 course, a Racquet Club featuring all four Grand Slam surfaces, pickleball and padel courts, basketball courts, batting cages and a children's discovery playground. The destination will also boast a 48-slip private marina for direct water access to the Intracoastal, a private members’ clubhouse with an indoor/outdoor wellness spa, elevated event spaces, an array of dining venues and more. Plans for the boutique 60- key Auberge hotel and spa that will house many of these exclusive experiences are underway.

The Residences at Shell Bay provides a rare ownership opportunity to buyers seeking an elite lifestyle within this coveted destination. Central to the concept is the thoughtful interior design by AvroKO. Open-concept layouts offer panoramic views of the golf course, fairways and Intracoastal Waterway, while the custom kitchens bring high-performance, chef-caliber Gaggenau appliances together with exquisite craftsmanship. This includes finishes like custom white oak cabinetry, honed marble countertops and burnished brass hardware. The residences blur the line between indoor and outdoor living and deliver a true sanctuary for tranquility and refinement.

Further providing an unmatched lifestyle is a private collection of ultra-luxury, resident-only amenities that complement the offerings available throughout the Shell Bay Club and future Auberge hotel. A world-class food and beverage program led by Michelin-starred Chef Julien Jouhannaud offers residents private dining, and a resort-style swimming pool, full-service medical day spa, as well as a fitness center with indoor and outdoor facilities prime for personal or small-group training refine the wellness component. Children’s amenities 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.

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

Related Group and Integra Investments Close On $527 Million In Construction Financing For St. Regis Residences, Miami

Related Group (Related) with Integra Investments (Integra) have closed on $527 million in financing for the highly-anticipated residential tower, St. Regis Residences, Miami (The Residences), on the Biscayne Bay waterfront in Miami’s South Brickell neighborhood. The loan was provided by TYKO Capital, a multi-billion-dollar commercial real estate private equity and private credit investment management platform, led by Adi Chugh. Over 60% of The Residences’ 152 homes are now in contract.

"We're pleased to partner with TYKO Capital to obtain one of the most substantial residential construction loans in South Florida's history," said Nick Pérez, President of Related's Condominium Division. "This achievement underscores investors' trust in Miami’s thriving residential market and, notably, in the distinguished St. Regis brand. The St. Regis Residences, Miami redefines luxury living, bringing an elevated lifestyle to the Brickell waterfront. With unparalleled amenities, spectacular views and impeccable service, every aspect is curated to surpass resident expectations."

Located at 1809 Brickell Ave., The Residences is being brought to life by a visionary team, with architecture by the esteemed Robert A.M. Stern Architects (RAMSA) and interiors by the highly acclaimed Rockwell Group. This striking property marks the first residential development in South Florida for RAMSA, which drew inspiration from the elegant aesthetic of golden-age ocean liners at sea, merged with the modern allure of skyscrapers. The 50-story tower will feature 152 condominium homes ranging from two to six bedrooms, including penthouses, sky villas and two stand-alone garden villas, creating a once-in-a-generation building that offers a bespoke experience synonymous with the St. Regis brand’s unmatched, historic five-star services.

“This significant financing milestone reflects Miami's rising prominence on the global stage and reinforces the remarkable appeal of the St. Regis brand,” said Nelson Stabile, Principal at Integra. “We’re excited to move closer to realizing The St. Regis Residences, Miami, which will extend the hallmark St. Regis lifestyle— from bespoke butler service to Michelin-starred dining —to a setting that offers both the vibrancy of Brickell and a serene retreat. Residents will experience something truly exceptional, and we're honored to play a role in shaping this vision while redefining the benchmarks of luxury living in Miami's real estate market."

In keeping with the St. Regis brand’s uncompromising commitment to excellence, residents will experience one of the most robust amenities packages on the market, with more than 50,000 square feet of indoor and outdoor spaces, including a professional-grade fitness center with a pilates and yoga studio; a full-size pickleball court; a private marina; a world-class spa and holistic wellness center; and an indoor lap pool. Signature butler services complete the lifestyle experience, including deliveries to residences, an on-premises house car, shoeshine service and other personal arrangements. Park-like grounds surround the building with lush landscaping designed by the acclaimed Swiss design firm, Enea Garden Design.

The culinary offerings at The Residences are equally exceptional. With the iconic St. Regis Tea Room and a fine-dining restaurant led by Michelin-starred chef Fabio Trabocchi, residents are treated to an unparalleled dining experience, redefining the concept of 'dining in.'

Renderings via Binyan Studios

For more information about St. Regis Residences, Miami or to inquire about purchasing a unit please fill out the form below:

PMG and Greybrook Secure $178 Million In Construction Refinancing for Society Wynwood

National development firm PMG, alongside Canadian-based private equity firm Greybrook, has secured $178 million in refinancing for the 10-story Society Wynwood mixed-use project located at 176 NW 25th St in Miami’s Wynwood Arts District. Financing was arranged by Eastdil Secured and provided by funds managed by Ares Management and Monarch Alternative Capital. PMG was represented by Randy Barcelo from Stearns Weaver Miller. Society Wynwood has experienced rapid leasing velocity since welcoming first residents in March.

“It’s been exciting to witness the building’s positive reception since opening, and we’re pleased to project that the property will be stabilized by spring 2025,” said Andrew Warman, Managing Director, Capital Markets at PMG. “We’re thankful for the support of our partners and lenders in securing this refinancing, which will enable us to repay the existing construction loan and continue a successful lease up.”

Society Wynwood features 318 rental apartments and 50,210 square feet of retail space across the ground floor’s full city block. The property offers a mix of traditional units with efficient layouts and innovative “Rent-by-Bedroom” (co-living) options. Its extensive amenity package encompasses over 82,000 square feet of community-focused spaces, including a massive rooftop pool deck with an outdoor gym, theater lawn, hot tub and grilling areas, a coworking hub with abundant private conference rooms, a modern gym for any workout, a yoga terrace lawn, smart package lockers, and app-based keys.

"The completed building fosters a strong sense of community with its expansive indoor and outdoor amenities and lifestyle programming for residents," said Sami Mouaket, Director of U.S. Investments & Developments at Greybrook. "Society Wynwood stands out not only for its attainably priced offering, but also its elevated lifestyle with condo standard finishes across both co-living and traditional suites. We have seen tenants relocating from within the neighborhood, from across the state, country and even internationally, reflecting the social diversity and continued appeal of Wynwood and Miami more broadly."

The internal ground floor courtyard hosts several dining options for both locals and visitors, including Dave’s Hot Chicken, Bodega Taqueria, Chama de Fogo’s Brazilian steakhouse, Las Vegas-based Nacho Daddy serving gourmet nachos, a Starbucks, Voodoo Donuts and I Scream Gelato. Society Wynwood is a vibrant addition to the neighborhood, blending modern living with a rich array of amenities and retail options.

Society Wynwood is the latest among PMG’s growing national portfolio of Society Living apartment communities. PMG created the 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.

Over the last 33 years, PMG has delivered more than $12B in assets across the country with exacting design and execution.

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:

Ugo Colombo's CMC Group Secures $69.9 Million Refinancing Loan For 4000 Ponce Home of The Collection

Miami-based luxury real estate development firm CMC Group has secured a $69.9 million loan from City National Bank of Florida (CNB) for the refinancing of 4000 Ponce / The Collection, a nine-story Class-A mixed use office and retail development in the heart of Miami’s elite Coral Gables neighborhood. Developed by veteran developer and CMC Group Founder Ugo Colombo in 2002, the Mediterranean-style building also is home to The Collection, one of the most successful luxury car dealerships in the United States, with brands including Ferrari, Aston Martin, Porsche, Maserati, Alfa Romeo, McLaren and Audi. Located at the confluence of Ponce de Leon Boulevard and Bird Road in Coral Gables, 4000 Ponce features 150,000 SF of Class A office space and 32,000 SF of prime ground-floor retail. The building is more than 90% leased to tenants including Steinway & Sons, Coldwell Banker, Hemisphere Media Group, Korn Ferry, Evensky & Katz, Pure Barre and Jetset Pilates.

“Our ability to secure this refinancing for 4000 Ponce is a testament to the building’s enduring value and strategic significance in the Coral Gables market,” said developer Ugo Colombo, Founder of CMC Group. “As the anchor of Coral Gables’ Southern Business District, 4000 Ponce not only boasts a premier walkable setting adjacent to The Shops at Merrick Park, but also a top-tier tenant roster including The Collection’s flagship location, which has called the building home for more than 20 years. With this refinancing, 4000 Ponce continues to set the standard for being one of the most prestigious business addresses in Miami, reinforcing its position as a cornerstone of sophistication and quality in the market.”

JLL Capital Markets worked on behalf of the borrower, CMC Group, to secure the five-year, floating-rate senior loan through City National Bank of Florida (CNB) Senior Vice President and Real Estate Banking Executive Karen Richardson. The JLL Capital Markets Debt Advisory team representing CMC Group was led by Senior Managing Director Paul Stasaitis, Associate Paul Adams, and Analyst Nicole Barba. Jim Shindell and Hannah Lidicker of Bilzin Sumberg represented CMC Group.

“This debt placement demonstrates that lenders highly value the fundamentals, such as a location that has blossomed into an upscale live, work, play urban neighborhood with convenient access to transit. But more importantly, the sponsor has demonstrated a long history of successful office occupancy and an operating business that leads in its industry space. We are experiencing the emergence of astute lenders who recognize that our local office markets are different than national themes and that every asset should be viewed singularly on its merits,” said Paul Stasaitis.

“CMC Group has been one of Florida’s most prolific real estate firms for more than 30 years, and 4000 Ponce has been a centerpiece of commercial activity in Coral Gables since its development. Our decision to finance the asset aligned closely with our dual focus on relationship banking and providing capital to clients that are fueling Florida’s real estate market, which is among the nation’s strongest,” according to Gary Fitzgerald, Executive Vice President and Real Estate Banking Executive at City National Bank of Florida.

Developed in 2002, 4000 Ponce offer a grand lobby, common areas and elevators enhanced by marble, Venetian stucco, cherry millwork, and bronze, while its exterior stands out for the iconic Mediterranean-style architecture that distinguishes ‘The City Beautiful.’ Each floor of office space contains approximately 30,000 rentable square feet, with flexible floor plans for both full-floor users and multi-tenant use. The smart building is equipped with the latest systems for fully-integrated broadband communications service, high-speed internet and data network service, and features ample on-site parking in an attached garage with a ratio of three spaces per 1000 SF, with a special visitor parking area on the mezzanine level.

4000 Ponce is surrounded by an abundance of executive housing and is adjacent to The Shops at Merrick Park, one of the South Florida’s most coveted shopping districts. Tenants enjoy the frequent service of the Coral Gables trolley which stops in front of the building and provides access to Miracle Mile, as well as the nearby MetroRail station. The property is also within walking distance from US-1 and is approximately 20 minutes away from Miami International Airport.

CMC Group’s South Florida development portfolio includes luxury residential towers including Bristol Tower, Santa Maria, Epic Residences and Hotel, Grovenor House, Porto Vita and Brickell Flatiron. CMC Group’s most recent developments include Onda Residences, which is delivering this Summer in Miami’s Bay Harbor Islands; Vita at Grove Isle, an ultra-luxury boutique condominium under construction on the private island of Grove Isle in Miami’s Coconut Grove neighborhood; and the newly unveiled Four Seasons Private Residences, also in Miami’s Coconut Grove.

Fortune International Group Closes On $36.08 Million In Pre-Development Financing For ORA by Casa Tua

Fortune International Group has closed on the the 46,373 SF site at 1210 Brickell Ave for the planned ORA by Casa Tua 77-story tower and as well as on $36,080,000 in pre-development financing from Amerant Bank. ORA by Casa Tua launched sales last year and plans for residences to go into contract soon. Fortune International Group had been under contract to acquire the site from Miami-based Patagonian Investment Internacional LLC; now that the acquisition has been completed Fortune can further the development and ready the site for construction with an expected groundbreaking in 2025.

"The acquisition of the site and loan closing are principal steps that mark an exciting beginning for ORA by Casa Tua’s vision to take shape,” said Edgardo Defortuna, President, CEO, and founder of Fortune International Group. “We are eager for Miami’s community to sense the anticipation and witness the project come to life."

The luxury development includes  533 fully furnished residences which are permitted for short-term rentals and will also be home to approximately 25,000 SF of space dedicated to Casa Tua’s four new restaurant concepts. In addition to the culinary offerings at ORA by Casa Tua, the development will also have creative workspaces featuring private office spaces, conference rooms, content creation rooms, bar lounge and outdoor seating. ORA by Casa Tua will feature resort-style offerings including a second pool on the 12th floor with a sun shelf, loungers, cabanas and jacuzzi; show kitchen, private event space and luscious green landscaping. Other amenities will include an entertainment lounge, a two-floor fitness and wellness center with a hammam and couples treatment rooms and a three-story open sky garden, which will be unique for Miami.

Globally recognized award-winning architecture firm Arquitectonica is behind the design of ORA by Casa Tua while m2atelier, known for their bespoke approach and created by Marco Bonelli and Marijana Radovic, are designing the interiors for both the amenity and residential spaces.

Residences at ORA by Casa Tua range from 500 SF studio homes to 2,400 SF four-bedroom fully furnished residences that will be ready for immediate listing as short-term, seasonal, or long-term rentals. All residences will offer panoramic views overlooking Brickell, Biscayne Bay and Coconut Grove; have ten-foot ceilings with floor-to-ceiling windows and curated window treatments; Italian-designed kitchens with top-tier appliances; Italian-designed baths with imported fixtures; smart home technology; pre-wired for high-speed internet & Wi-Fi; spacious walk-in closets; and washer and dryers. Sales and marketing being handled internally by Fortune International Group, pricing started in the $800,000’s for studio units when sales launched last year.

Casa Tua was founded by Miky and Leticia Grendene, who opened their flagship Miami Beach location in 2001 as a welcoming place for friends, family, and guests from around the world to come together to celebrate life. Pioneering the members club concept in Miami, Casa Tua combines art, entertainment and fine dining with a signature Italian style where simplicity meets sophistication. It has since expanded to locations in Aspen and Paris, with New York City opening in 2023. The brand also launched Casa Tua Cucina in partnership with Richard Baker and Saks Fifth Avenue, an award winning Italian open kitchen concept, located in Miami’s Brickell City Centre.

Renderings via Fortune International Group

For more information about ORA by Casa Tua or to inquire about purchasing a unit please fill out the form below: