Sobe Sky Development, a partnership between Flag Luxury Group, Ben-Josef Group (BJGH), and Lionstone Development, has secured a $61.2 million predevelopment loan from BHI, the U.S. division of Bank Hapoalim, to advance The Ritz-Carlton Residences, South Beach. The financing marks a significant step forward for the ultra-luxury development, which will bring 30 custom-designed beach houses in a new tower overlooking the Atlantic Ocean and Miami Beach.

Baron Property Group and MG Developer have announced the signing of the first retail lease at Metro Parc in Hialeah. Mr. Baker, a Cuban bakery with nine locations across Miami, will occupy a 1,760-square-foot space on the ground floor of the development at the corner of East 25th Street and East 9th Avenue. The bakery is expected to open in late 2026, marking its debut in the Hialeah market.

Florida YIMBY has an update regarding Modera Downtown Boca, a venture we covered nearly a year ago.

ZIG Investment Group, led by entrepreneur and real estate developer Mike Zikri, has secured approval for a 25-key luxury boutique hotel to rise adjacent to Villa Paula, the landmark 1920s Neo-Classical residence located in Miami’s Little Haiti neighborhood. The City of Miami Planning and Zoning Board voted unanimously in favor of the project, which will expand the site’s role as both a cultural and hospitality destination.

Astor Sound at Lake Worth is nearing the end of construction in Palm Beach County.