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.

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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North Development Launches Sales of Second Domus Branded Project, Domus Brickell Center in Miami's Financial Corridor

North Development, a joint-venture between Miami developer Ricardo Dunin’s Oak Capital and Edifica, one of the largest developers and builders in Peru, today announced the launch of sales of Domus Brickell Center, the second condominium project for the developer’s Domus brand and its unique FLATS concept.

North Development, a joint-venture between Miami developer Ricardo Dunin’s Oak Capital and Edifica, one of the largest developers and builders in Peru, today announced the launch of sales of Domus Brickell Center, the second condominium project for the developer’s Domus brand and its unique FLATS concept, which stands for “Flexible Apartments for Temporary Stays.” The unveiling of Domus Brickell Center comes less than 60 days following the groundbreaking of its sister project, Domus Brickell Park, which is now approximately 60% sold and slated for completion next winter.

The 35-story, 579-unit tower will be professionally managed and located in the heart of Miami’s premier Brickell financial corridor on the ever-popular SW Second Ave. thoroughfare (1034 SW 2nd Ave., Miami, Fla.). The bustling corridor is flanked by major banks and corporations as well as trendy restaurants, shopping centers, and recreational venues.

In addition to plush, fully furnished FLATS, Domus Brickell Center will feature an amenity-rich, approximately 4,000-square-foot+ gathering area – The Cypress Room – complete with a café, wine bar, and an artisanal market with gourmet fare. There will also be 24-hour high-touch services, from a welcome concierge and valet attendants to a customer service line.

As a whole, the Domus FLATS concept, which was coined by Dunin, is being praised for its transformative approach to short-term-rental-friendly offerings – distinctively bolstered by roots in the high-end hospitality space. A big differentiator from similar offerings is Dunin’s creation of the Domus Management company. Overseen by industry leaders, the entity will have a comprehensive, 360-degree customer-centric view, adhering to top-tier brand standards. In effect, FLATS will be a new asset class within the residential market.

“Domus Brickell Center is a true marketplace disruptor and the latest stage of evolution for our FLATS concept,” said Ricardo Dunin, who is the founding partner of North Development. Dunin was a pioneer of the condo-hotel concept, which he explains is now vastly outdated.

“To ensure that value and quality remain intact, we have created a one-of-its-kind management company to oversee day-to-day services, ensuring that the brand maintains its top-level reputation from one project to the next,” adds Dunin. “Today’s sales launch, just weeks after the groundbreaking of Domus Brickell Park, is indicative of how much the marketplace has embraced our vision.”

“Adding to why Domus Brickell Center is such a standout is the fact that it is an extremely well-constructed and expertly crafted project,” said Juan Carlos Tassara, cofounder of Edifica. “The quality of this property, coupled with its exceptionally innovative designs, cannot be overstated. We have hand-selected the best minds in the industry to bring our latest vision to fruition.”

Like its sister project, Domus Brickell Center will be exclusively brokered by Cervera Real Estate. The team of leading talents behind the building’s designs include Studio Mc+G Architecture, a Miami-based architectural firm, whose current portfolio includes the top-to-bottom renovation of the famed Delano South Beach hotel. Founded by Jennifer McConney-Gayoso, Studio Mc+G is known for its proficiency in hospitality and resort design, historic preservation projects, commercial retail spaces, and single-family residences.

Additional collaborators include interior architect Urban Robot Associates, a full-service design collective located in Miami Beach, specializing in urban design, interiors, and landscape architecture. Urban Robot also designed the façade following an internationally led competition for the best façade design.

The general contactor, South Florida-based Thornton Construction Company, Inc., has been a leader throughout the state for more than 25 years, overseeing countless community-shaping projects, from condominiums to commercial centers. Both Urban Robot and Thornton Construction are also involved in the design and construction of Domus Brickell Park, furthering synergies between the two buildings.

“This is a can’t-miss value proposition for interested buyers,” said Alicia Cervera Lamadrid, Managing Partner and Principal of Cervera Real Estate. “North Development is bringing a magnificent product at a competitive price-point to the Brickell market, where consumers feel they have been left out.”

Starting in the low $500,000’s to $1.5 million, studio, one- and two-bedroom FLATS (Flexible Apartments for Temporary Stays) will feature nine-foot ceilings, private balconies, keyless entry smart lock systems, premium appliances, finishes, and in-unit washers and dryers.

Features throughout Domus Brickell Center – a wellness-focused ‘green’ building with specialized ultraviolet (UV) water purification and air filtration systems in all common areas and EV charging stations – will be numerous and state-of-the-art.

In addition to The Cypress Room and a private meeting area with large-screen-format video conference capabilities and a space for podcast production, there will be a seventh-floor gym adjacent to an outdoor terrace, rooftop yoga deck, rooftop bar, pool, and sky deck, cabanas with day beds, a hot tub, and a lush garden lounge. Additional services include quality control supervisors to oversee cleanliness and turnover, an experienced hospitality housekeeping team that’s on call 24-7, and a Domus owner rental portal. The Domus FLATS App will allow for seamless check-ins, room and elevator access, and multiple other services and benefits.

Domus Brickell Center – in its ideal setting along Southwest Second Ave. – is also across the street from the Mercedes-Benz Places condominium, in addition to being just steps from Southside Park, multiple greenspaces, and The Underline – a highly amenitized, 10-mile linear park with running and bike trails, an outdoor gym, a soccer pitch, public art, and more. High-floor views within the building will be abundant, from surrounding cityscapes to Biscayne Bay.

Since Domus Brickell Center will also be one block from the Brickell Metromover station, the ingress and egress will be unparalleled. The Metromover connects to the Miami Metrorail which, in turn, connects to the Brightline high-speed passenger train, now traveling to Orlando. Essentially, a resident here will be able to get to Orlando by walking one block.

In short, Domus Brickell Center, slated for delivery at the end of 2027, is at the epicenter of one of the neighborhood’s most sought-after hotspots.

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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.

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.

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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.

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.

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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.

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.

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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.

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.”

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The Allen Morris Company Receives Commission Approval For Ponce Park Residences Coral Gables Condo

The Allen Morris Company, led by Allen and Spencer Morris, have received commission approval for Ponce Park Residences, a luxury condo project set to rise in the heart of Coral Gables. Located on the crown jewel site at the intersection of the renowned Ponce De Leon Boulevard and University Drive in Coral Gables.

The Allen Morris Company, led by Allen and Spencer Morris, have received commission approval for Ponce Park Residences, a luxury condo project set to rise in the heart of Coral Gables. Located on the crown jewel site at the intersection of the renowned Ponce De Leon Boulevard and University Drive in Coral Gables, Ponce Park Residences is positioned to become the next most iconic building in The City Beautiful. On May 21 the Coral Gables commission voted a unanimous 5-0 in support for Ponce Park Residences, which was designed by John Cunningham and pays homage to the Mediterranean influences of Coral Gables while creating an active pedestrian arcade that blends seamlessly into a new city park. Project architect John Cunningham designed the timeless Alhambra Towers which is also owned and developed by The Allen Morris Company and has served as one of the most iconic buildings on the Coral Gables skyline. Ponce Park Residences will also feature landscape design by Naturalficial. Sales are set to launch summer 2024 and will be overseen by ONE Sotheby’s International Realty.

Ponce Park Residences will consist of approximately 20,000 SF of retail & restaurant space, which will house two world-renown restaurants and a world-class wellness spa. The tower will house 57 ultra luxury condo units. The units will include the finest Italian kitchens & countertops, 12’ deep balconies with summer kitchens in every unit and 11’-12' clear ceiling heights. The building’s rooftop deck boasts 30,000 SF of amenities including multiple pools, a cold plunge, a hot tub and a fully staffed, private rooftop bar with views of South Gables and Biscayne Bay.

The project will provide residents a boutique urban lifestyle experience and access to over 100 shops and restaurants located at the $1 billion mixed-use The Plaza Coral Gables directly across the street as well as the Miracle Mile corridor located a short walk away.

The Allen Morris Company will also contribute $2 million in public improvements and assume responsibility for the re-design of Ponce Circle Park, The City’s central park. The total park improvements will total over $9 million.

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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.

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.

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Meet our Panelists for PROFILE Royal Retreat Hospitality Real Estate in Miami

On May 21 PROFILEmiami is set to take over the iconic Art Deco landmark and Miami hot spot, QUEEN to bring you an exclusive cocktail and exciting panel discussing hospitality  real estate with Miami’s top developers and owners.

On May 21 PROFILEmiami is set to take over the iconic Art Deco landmark and Miami hot spot, QUEEN to bring you an exclusive cocktail and exciting panel discussing hospitality  real estate with 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. The panelists will explore investing in, developing and operating commercial real estate assets with a focus on hospitality including hotels, restaurants, nightclubs, private clubs, golf courses, etc.

Attendees will sip custom cocktails by E11EVEN Vodka, Bennati Wine Esquisito Tequila and Tripping Animals brewing plus indulge 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. This is not just a networking event; it's an experience.

Date: Tuesday, May 21 from 5 - 8 PM

Location: Queen Miami Beach, 550 Washington Ave., Miami Beach

Panelists:

  • Mathieu Massa, Mr. Hospitality / Queen

  • Michael Simkins, E11EVEN Partners / Lion Development

  • Alex Witkoff, Witkoff

  • Robert Rivani, Black Lion Investment Group

  • Ronny Finvarb, Finvarb Group

  • Christian Charre, Berkadia Hotels & Hospitality (Moderator)

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Shoma Group Unveils New Mixed Use Project Shoma 88

Shoma Group, a prominent Miami-based developer, has introduced Shoma 88, a mixed-use development poised to redefine the living experience in Kendall. This project signals a significant stride for Shoma Group, highlighting their dedication to providing housing options that blend affordability with luxury living experiences.

Shoma Group, a prominent Miami-based developer, has introduced Shoma 88, a mixed-use development poised to redefine the living experience in Kendall. This project signals a significant stride for Shoma Group, highlighting their dedication to providing housing options that blend affordability with luxury living experiences.

Masoud Shojaee, CEO and Chairman of the Board at Shoma Group, expressed excitement for the project, stating, "Kendall holds a special place in our hearts. Shoma 88 represents an opportunity for us to showcase our growth and evolution while maintaining our commitment to quality and community. We're enthusiastic about reintroducing luxury living to Kendall, where our journey began."

Standing 28 stories tall, Shoma 88 boasts 405 rental units, each offering a generous 920 square feet of space. With inclusivity in mind, Shoma Group has designated at least 40 percent of the units for workforce housing, ensuring accessibility for Kendall's essential workforce.

Shoma 88 offers a holistic lifestyle experience by integrating residential living with essential services and amenities. The development encompasses dedicated office space, providing residents with convenient coworking options and fostering a dynamic live-work environment. Additionally, 105,000 square feet of medical office space and 8,000 square feet of retail space will cater to residents' needs for essential services and amenities.

Residents will have access to a wide range of state-of-the-art amenities, including a rooftop pool with barbecue areas, a fully equipped gym, a sauna, a business center, a dedicated kids’ playroom, and a clubhouse. Stephanie Shojaee, President of Shoma Group, underscored the project's inclusivity, stating, "Shoma 88 is more than just luxury living. We're creating a space that meets the diverse needs of the Kendall community, fostering a vibrant hub for residents, workers, and local businesses."

Groundbreaking for Shoma 88 is slated for the first quarter of 2025, with an estimated completion date within 30 months. Shoma MGMT, led by Stephanie Shojaee, will oversee leasing and management for the property, designed by the renowned PPK Architects.

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