CMC Group

$69.9 Million Refinancing Secured for 4000 Ponce/The Collection in Coral Gables

Miami-based real estate development firm CMC Group has obtained 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 Coral Gables. Developed by CMC Group Founder Ugo Colombo in 2002, the Mediterranean-style building is also home to The Collection, a luxury car dealership featuring brands such as Ferrari, Aston Martin, and Porsche. The property is located at the intersection of Ponce de Leon Boulevard and Bird Road and includes 150,000 square feet of Class A office space and 32,000 square feet of ground-floor retail. It is over 90% leased to tenants, including Steinway & Sons, Coldwell Banker, and Hemisphere Media Group.

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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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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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CMC Group Breaks Ground On Vita At Grove Isle In Coconut Grove, Miami

Prominent Miami developer, Ugo Colombo of CMC Group, has recently broken ground on Vita at Grove Isle, a boutique condominium at 5 Grove Isle Drive on the 20-acre gated private island just off the shore of the city’s Coconut Grove neighborhood. Collaborating with global architecture and design firm CallisonRTKL, local architectural firm S & E Architects, and Italian designers Carlo and Paolo Colombo of A++ Human SustainableArchitecture, the seven-story development is set to offer 65 residences featuring unobstructed panoramic bay views, exquisite detailing, and the finest materials and workmanship. The project, designed as a singular architectural structure comprising three buildings – Mare, Luce, and Sole – echoes its distinct Grove Isle setting with a graceful, curved shape inspired by the island’s natural contours while maximizing vistas of the shimmering Biscayne Bay. Set amidst verdant, native landscaping, Vita at Grove Isle is poised to deliver a boutique living experience, with construction now underway and an estimated completion timeline of 24 to 28 months.

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