Bank OZK

Oak Row Equities Closes $181M Construction Loan From Bank OZK For 2600 Biscayne Boulevard In Edgewater, Miami

Oak Row Equities has closed on a $181M construction loan from Bank OZK for 2600 Biscayne Boulevard, a 41-story Class AAA office and multifamily tower in Miami’s rapidly-maturing Edgewater submarket. This transaction is one of the largest mixed-used construction loans to close in South Florida in the past year. Newmark’s Dustin Stolly, Jordan Roeschlaub, Chris Kramer, and Daniel Matz arranged the financing. Remarkably, 50% of 2600 Biscayne’s office and retail space was pre-leased before breaking ground, marking it as one of Miami’s most pre-leased new construction office buildings.

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Construction Progresses On CMC Group’s ‘Vita at Grove Isle’ Condominium In Coconut Grove, Miami

Miami’s CMC Group, under the leadership of Ugo Colombo, has reached a significant milestone, advancing past the halfway mark in the construction of Vita at Grove Isle. This seven-story boutique luxury condominium is emerging on Grove Isle, a secluded 20-acre island just off the coast of Miami’s Coconut Grove neighborhood. Located at 5 Grove Isle Drive, the development features three interconnected buildings, each being constructed sequentially to ultimately create a cohesive structure. Earlier this year, CMC Group obtained a $239 million construction loan from Bank OZK, earmarked for the continued progress of the condominium. The project, which initiated construction in April 2023, anticipates structural completion of all three buildings by this summer, with the entire development expected to be ready for occupants by late 2025. 

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Terra Closes On $127 Million Refinancing Loan For ‘Natura Gardens’ At 17351 NW 94th Court In West Hialeah

Terra and New Valley, the development partners behind Natura Gardens, a new multifamily community in Northwest Miami-Dade County, have secured $127 million in permanent financing. The loan, issued by an affiliate of MF1 Capital, will be used to pay off and refinance an existing $65 million construction loan provided in 2021 by Bank OZK. Completed in the Summer of 2023, Natura Gardens includes 460 garden-style rental apartments situated across 23 acres in Miami’s West Hialeah neighborhood.

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CMC Group Lands $239 Million Construction Loan For Vita at Grove Isle Condo At 5 Grove Isle Drive In Miami

Miami-based CMC Group, led by real estate developer Ugo Colombo, has obtained a $239 million construction loan from Bank OZK to develop Vita at Grove Isle. This luxury condominium project, currently under construction at 5 Grie Isle Drive on the private island of Grove Isle, near Miami’s Coconut Grove, will consist of a seven-story building with 65 waterfront residences, each boasting panoramic bay views and high-quality finishes. The project, which broke ground in April 2023, is progressing with vertical construction and is slated for completion by late 2025.

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Rosso Development, Standard International & Midtown Development Secure $45.045 Million Financing From Bank OZK For The Standard Residences, Midtown Miami

Hospitality and real estate pioneers Rosso Development, Standard International, and Midtown Development have closed on a $45,045,000 construction loan from Bank OZK for the highly anticipated The Standard Residences, Midtown Miami, located at 3100 Northeast 1st Avenue. A JLL Capital Markets Debt Advisory team, led by Managing Director Brian Gaswirth and Associate Jimmy Calvo, represented the developer.

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