CMC Group and Fort Partners have closed a $323.8 million construction loan from Bank OZK for Four Seasons Private Residences Coconut Grove, a 20-story waterfront residential tower at 2699 South Bayshore Drive in Miami’s Coconut Grove neighborhood. The financing supports Florida’s first standalone Four Seasons branded residential development without an accompanying hotel component. The project broke ground in October and is advancing on schedule toward a mid-2028 completion, with the tower planned to deliver 70 luxury condominium residences along the waterfront.
The construction loan drew substantial lender participation, with multiple institutions submitting competitive proposals. Legal representation for the development team was provided by Bilzin Sumberg, led by real estate partner Jim Shindell and associate Hannah Lidicker.
Credit: CMC Group and Fort Partners.
“The level of interest was exceptional, with more than 10 lenders providing highly competitive terms,” said Ugo Colombo, Founder of CMC Group. “That response underscores the strength of — and market confidence in — the development team, the Four Seasons brand, an exciting Coconut Grove location and a long-term vision centered on timeless architecture, refined design and world-class service.”
“This financing marks a pivotal moment for Four Seasons Private Residences Coconut Grove,” said Nadim Ashi, CEO of Fort Partners. “It affirms our long-term vision for a thoughtful, enduring property that will contribute meaningfully to the neighborhood and to the Four Seasons legacy.”
Credit: CMC Group and Fort Partners.
Four Seasons Private Residences Coconut Grove is designed by Miami-based architect Luis Revuelta, with interior design by Florentine designer Michele Bönan. The residences are planned with floor-to-ceiling glazing, private elevator access to individual foyers, and ceiling heights ranging from approximately 10 feet 4 inches to 11 feet 6 inches from finished floor to finished ceiling. Interior specifications include custom Italian kitchens by Molteni and Michele Bönan Interiors, along with Italian cabinetry and marble finishes in the bathrooms.
Credit: CMC Group and Fort Partners.
Amenity spaces will include a restaurant, library, children’s area, private event room, and an expansive pool deck with a bar lounge serviced by Four Seasons. The wellness component is planned to feature a fitness center, yoga and massage rooms, and a spa with a cold plunge, hydromassage pool, infrared sauna, Roman-inspired sauna circuit, ice fountain, and specialty shower facilities. Residential services are expected to include a dedicated Director of Residences, Lifestyle Manager, housekeeping and butler services, in-residence dining, valet operations, and wellness programming.
“We appreciate the opportunity to once again partner with top-tier sponsors like CMC Group and Fort Partners on this exceptional development,” said Greg Newman, Senior Managing Director of Originations at Bank OZK. “This financing demonstrates our confidence in the sponsors’ ability to execute on their vision and the strength of the South Florida market.”
Credit: CMC Group and Fort Partners.
Credit: CMC Group and Fort Partners.
“The financing for Four Seasons Private Residences Coconut Grove reflects sustained lender confidence in South Florida’s luxury residential market, particularly in desirable neighborhoods such as Coconut Grove,” said Hannah Lidicker of law firm Bilzin Sumberg, who represented the development team in the transaction along with real estate partner Jim Shindell. “Developments anchored by globally recognized brands like Four Seasons, especially those backed by best-in-class developers like CMC Group and Fort Partners, continue to attract strong lender interest.”
The waterfront site is positioned along South Bayshore Drive within Coconut Grove, offering proximity to neighborhood parks, retail, and dining destinations. Sales for Four Seasons Private Residences Coconut Grove are being handled internally by CMC Real Estate and Fort Realty.
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Wow, another generic building! Once upon a time, luxury hotel buildings were nice buildings to look at. Case in point, the Ritz Carlton.