Miami-Dade County

$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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Site and Financing Secured for 77-Story ‘ORA by Casa Tua’ in Miami’s Brickell Financial District

Miami-based developer Fortune International Group has acquired a 46,373-square-foot site at 1210 Brickell Ave and secured a $36,080,000 pre-development loan for the ORA by Casa Tua project. The loan, provided by Amerant Bank, marks a significant step forward in development. Fortune International Group purchased the site from Miami-based Patagonian Investment Internacional LLC and is now set to prepare the site for construction, with groundbreaking expected to begin in 2025.

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New Eight-Story Affordable Housing Project Planned at 13841 SW 252nd Street in Princeton

An Administrative Site Plan Review (ASPR) application was submitted on July 1 for Princeton Manor, an affordable housing development aimed at providing 132 new rental apartments. The project is planned for an eight-story high-rise building at 13841 Southwest 252nd Street within the Princeton Community Urban Center in Florida. Princeton Manor is being developed by Princeton Manor LLC, an entity linked to Centennial Management of Miami Lakes, FL. The project is located on an approximately 2.2-acre vacant site in the westernmost portion of the property.

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