Finance

Miami River. Designed by Kobi Karp.

Chetrit Group Lands $310 Million Loan From Madison Realty Capital For The Kobi Karp-Designed 6.2-Acre Miami River Mega Project

The Chetrit Group’s vision for the 6.2-acre Miami River may finally come to fruition after landing a loan to begin construction. The New York City-based developer was granted $310 million in financing from Madison Realty Capital for the first two phases of the 4.2 million-square-foot mega project in Brickell, which is comprised of building the first of four towers and the additions and improvements to the riverwalk. The deal was arranged by Henry Bodek of Galaxy Capital Group, and is collateralized by the land for the last three phases. Kobi Karp is the architect for development, which will ultimately yield 1,928 residential units, 330 hotel rooms, 196,882-square-feet of retail space, and 98,040-square-feet of office space across multiple glass-clad towers along with boat slips, an outdoor theater, a residents lounge, a business center, a state-of-the-art gym, a pool, and a café.

Read More

Solemar. Image courtesy of Related Group.

Related Group Lands $91.3 Million Construction Loan for 20-Story Solemar Condo Tower In Pompano Beach

Vertical construction will be moving forward on Solemar, a 20-story condominium tower underway at 1116 North Ocean Boulevard in Pompano Beach. It’s developer, the Related Group, acquired a $91.3 million mid-construction loan from CIBC Bank for the development, which broke ground in May of 2021. International architecture firm Arquitectonica is onboard as the designer of the condo tower with Meyer Davis handling interiors. Plans call for the construction of a 250-foot-tall building yielding 105 residential units, that of which 95% have already been pre-sold.

Read More


Society Orlando. Designed by Baker Barrios.

Property Markets Group And Raven Capital Management Secure $120 Million Construction Loan for Society Orlando

Miami and New York City-based investment, development, and asset management firm Property Markets Group (PMG), alongside partner Raven Capital Management (Raven) has announced the securing of a $120 million construction loan for their 825,000-square foot – 26-story Society Orlando mixed-use project located at 434 North Orange Avenue in Downtown Orlando. The loan is being provided for phase one of the development of the project, which broke ground in 2020. Funds are being provided by an entity managed by Los Angeles-based CIM Group.

Read More

WYND 28. Designed by Arquitectonica.

YIMBY Checks In On The Progress Of Kushner’s WYND 27 and WYND 28

YIMBY recently visited the sites of WYND 27 and WYND 28, two mixed-used buildings of 5 and 8 stories currently under construction at 127 Northwest 27th Street and 129 Northwest 26th Street in Wynwood, Miami. Both designed by Arquitectonica and developed by New York City’s Kushner Companies in collaboration with Miami-based Block Capital Group, the project will yield a combined 152 luxury residential units, 46,000 square feet of office space, 33,500 square feet of retail, 232 parking spaces and featuring a courtyard and three roof decks. Beauchamp Construction is the general contractor for both structures. 

Read More

Fetching more...