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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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