Opus Coconut Grove Secures $28.8M Construction Loan, Paving the Way for Vertical Development

META Development has reached a major milestone for Opus Coconut Grove, announcing the successful closing of a $28.8 million construction loan from Los Angeles–based Arixa Capital. The funding marks a pivotal step forward in bringing this limited-edition boutique development to life in the heart of Miami’s Coconut Grove.

Financing Milestone with Arixa Capital

The construction loan signals strong confidence in both the project and Miami’s luxury condo market. With traditional lenders tightening standards, developers have increasingly turned to private lenders like Arixa Capital. This financing ensures Opus Coconut Grove has the resources needed to move confidently into the next phase of development, advancing from pre-construction to demolition and vertical building.

According to META Development CEO Andrew Rasken, securing financing validates the firm’s “Go Boutique” philosophy, which emphasizes smaller-scale, design-forward residential projects that cater to discerning buyers seeking exclusivity and craftsmanship.

A Boutique Vision for Coconut Grove

Opus Coconut Grove is designed as a limited-edition collection of residences, blending architectural precision with contemporary elegance. The development reflects Coconut Grove’s character—lush, green, and residential—while elevating the experience with curated design and modern amenities.

Rasken noted that the financing is not only a milestone but also a response to the growing demand for boutique, design-driven residences in Miami, a market that continues to attract both local and international buyers.

What’s Next for Opus Coconut Grove

With financing now fully secured, construction will progress to demolition, site work, and eventually vertical construction. Once completed, Opus Coconut Grove will stand out as a distinctive residential experience in one of Miami’s most sought-after neighborhoods.

Located just minutes from Biscayne Bay and the cultural and dining offerings of Coconut Grove, the development offers future residents both convenience and a lifestyle defined by privacy, luxury, and architectural distinction.