CMC Group Secures $69.9 Million Loan for 4000 Ponce/The Collection in Coral Gables
CMC Group has obtained a significant $69.9 million loan from City National Bank of Florida (CNB) for the refinancing of 4000 Ponce/The Collection. This nine-story, Class-A mixed-use office and retail development, situated in the heart of Coral Gables, was developed by CMC Group Founder Ugo Colombo in 2002. The Mediterranean-style building is not only an architectural marvel but also a hub for luxury and business, featuring The Collection, a high-end car dealership showcasing brands such as Ferrari, Aston Martin, and Porsche.
Located at the intersection of Ponce de Leon Boulevard and Bird Road, 4000 Ponce/The Collection encompasses 150,000 square feet of Class A office space and 32,000 square feet of ground-floor retail. The property boasts over 90% occupancy, with prestigious tenants including Steinway & Sons, Coldwell Banker, and Hemisphere Media Group.
“Our ability to secure this refinancing for 4000 Ponce is a testament to the building’s enduring value and strategic significance in the Coral Gables market,” said Ugo Colombo. “As the anchor of Coral Gables’ Southern Business District, 4000 Ponce not only boasts a premier walkable setting adjacent to The Shops at Merrick Park, but also a top-tier tenant roster including The Collection’s flagship location, which has called the building home for more than 20 years. With this refinancing, 4000 Ponce continues to set the standard for being one of the most prestigious business addresses in Miami, reinforcing its position as a cornerstone of sophistication and quality in the market.”
The refinancing process was facilitated by JLL Capital Markets, with a team led by Senior Managing Director Paul Stasaitis, Associate Paul Adams, and Analyst Nicole Barba. Legal representation was provided by Jim Shindell and Hannah Lidicker of Bilzin Sumberg. The five-year, floating-rate senior loan secured through City National Bank of Florida underscores the building’s robust market presence and the sponsor’s proven track record.
Gary Fitzgerald, Executive Vice President and Real Estate Banking Executive at City National Bank of Florida, added, “CMC Group has been one of Florida’s most prolific real estate firms for more than 30 years, and 4000 Ponce has been a centerpiece of commercial activity in Coral Gables since its development. Our decision to finance the asset aligned closely with our dual focus on relationship banking and providing capital to clients that are fueling Florida’s real estate market, which is among the nation’s strongest.”
Built in 2002, 4000 Ponce features a grand lobby adorned with marble, Venetian stucco, cherry millwork, and bronze accents, embodying Mediterranean-style architecture. Each office floor offers approximately 30,000 rentable square feet with flexible floor plans. The building is equipped with advanced broadband communications, high-speed internet, data network services, and ample on-site parking.
The strategic location of 4000 Ponce/The Collection offers tenants easy access to executive housing, The Shops at Merrick Park, Coral Gables trolley service, a nearby MetroRail station, and proximity to US-1 and Miami International Airport.
Introducing 14 ROC Miami: A New Condo Tower by GFO Investments
GFO Investments is excited to announce the launch of sales for their latest condo tower, 14 ROC Miami. This impressive 32-story development promises to be a landmark in the city’s skyline, offering modern living spaces with a flexible rental policy that suits a variety of lifestyles.
The 14 ROC condo tower will feature a total of 283 units, providing ample options for potential homeowners. These units range from cozy 410-square-foot studios to spacious 964-square-foot apartments, ensuring there’s something for everyone. Prices for these stylish units start at $495,000, making 14 ROC an attractive option for both investors and residents seeking a blend of luxury and convenience.
RSP Architects, a firm renowned for its innovative and sustainable designs, is at the helm of 14 ROC’s architectural design. The interiors of the condo tower will be crafted by March and White Design, known for their sophisticated and contemporary aesthetic. To complement the sleek interiors, Urban Robot Associates will be designing the landscape, ensuring that the outdoor spaces are as inviting and beautiful as the interiors.
GFO Investments has a proven track record of delivering high-quality developments. Their recent project, Gale Miami Hotel & Residences, opened on July 1 and has already received rave reviews for its luxurious amenities and prime location. The success of Gale Miami Hotel & Residences sets a high standard, and 14 ROC is poised to continue this tradition of excellence.
Fortune International Group Secures Pre-Development Loan for ORA by Casa Tua in Brickell
Fortune International Group, a prominent Miami-based developer, has made a bold move by acquiring a prime 46,373-square-foot site at 1210 Brickell Ave in the heart of Brickell. This acquisition is a crucial milestone for the ORA by Casa Tua project, further supported by a substantial $36,080,000 pre-development loan from Amerant Bank. The project, set to redefine luxury living in Miami, is now on track for its groundbreaking in 2025.
The site was purchased from Miami-based Patagonian Investment Internacional LLC, and the developer is now gearing up for the construction phase, with groundbreaking expected to commence in 2025.
ORA by Casa Tua is set to be a landmark development in Miami, standing at 77 stories and approximately 930 feet tall. The building, designed by Arquitectonica with interiors by m2atelier, will feature 533 fully furnished residences available for short-term rentals. This ambitious project aims to embody Miami’s dynamic and evolving spirit, establishing itself as a prime destination in the city.
The development will also include approximately 25,000 square feet dedicated to Casa Tua’s four new restaurant concepts. Additionally, it will feature creative workspaces with private office spaces, conference rooms, content creation rooms, bar lounges, and outdoor seating areas.
Edgardo Defortuna, President, CEO, and founder of Fortune International Group, expressed his excitement about the project: “The acquisition of the site and loan closing are principal steps that mark an exciting beginning for ORA by Casa Tua’s vision to take shape. We are eager for Miami’s community to sense the anticipation and witness the project come to life.”
ORA by Casa Tua promises a range of luxurious amenities, including a second pool on the 12th floor with a sun shelf, loungers, cabanas, a jacuzzi, a show kitchen, a private event space, and lush landscaping. Residents will also enjoy an entertainment lounge, a two-floor fitness and wellness center with a hammam and couples treatment rooms, and a unique three-story open sky garden.
The residences will range from 500-square-foot studios to 2,400-square-foot four-bedroom units, all fully furnished and ready for immediate listing as short-term, seasonal, or long-term rentals. These units will offer stunning panoramic views of Brickell, Biscayne Bay, and Coconut Grove, featuring ten-foot ceilings with floor-to-ceiling windows and curated window treatments. The Italian-designed kitchens will be equipped with top-tier appliances, and the Italian-designed baths will include imported fixtures. Additionally, the residences will be outfitted with smart home technology and spacious walk-in closets.
Casa Tua, founded by Miky and Leticia Grendene, opened its flagship Miami Beach location in 2001. It quickly became known as a welcoming place for friends, family, and guests from around the world to celebrate life. Pioneering the members club concept in Miami, Casa Tua blends art, entertainment, and fine dining with a signature Italian style. Over the years, it has expanded to Aspen and Paris, with a New York City location opening in 2023. The brand also launched Casa Tua Cucina in partnership with Richard Baker and Saks Fifth Avenue, an award-winning Italian open kitchen concept located in Miami’s Brickell City Centre.
ORA by Casa Tua is poised to add to this legacy, offering a unique blend of luxury living and innovative design that reflects the vibrant spirit of Miami. As the project progresses, it will undoubtedly become a cornerstone of the Brickell skyline and a testament to Fortune International Group’s vision and commitment to excellence.
FAA Approves Permits For 57-Story ‘M-Tower’ At 56 SW 1st Street In Downtown Miami
Plans for M-Tower permits has been officially been approved but The Federal Aviation Administration (FAA) in Downtown Miami. The permits allow for the structure to rise 605 feet above ground or 615 feet above mean sea level. This approval, granted on July 2, 2024, is valid until January 1, 2026.
M-Tower is being developed by Lions Group NYC and Fortis Design + Build under the Downtown 1st St LLC banner. The 57-story building will be located at 56 Southwest 1st Street, near Miami’s Government Center. The project, designed by Nichols Architects with landscape architecture by Naturalficial and civil engineering by Kimley-Horn, will include 675 residential units, a public parking garage with 694 spaces, and 10,531 square feet of ground-floor commercial space.
The residential units will be a mix of studios, one-bedroom, and two-bedroom apartments, totaling 507,070 square feet. The ninth floor will feature amenities such as a landscaped outdoor deck with two pools. The project aims to enhance the streetscape with aluminum-framed window wall systems and integrated art murals selected by the Miami Parking Authority for the eight-story parking garage.
Total demolition permits have already been approved and issued for both sites at 56 and 70 Southwest 1st Street. The BG Group LLC is listed as the contractor for the demolition, estimated at a combined $505,000 worth of work. The site previously housed a 56-year-old municipal parking garage, which will be demolished to make way for the new development.
This development is part of a broader revitalization effort in downtown Miami, which includes multiple new residential, commercial, and office projects. The completion of M-Tower will further contribute to the area’s transformation, offering modern living spaces and commercial opportunities in the city’s heart.
Discover Solana Bay: Miami’s New Boutique Residential Enclave
A new residential boutique in Miami, Solana Bay, has recently unveiled its first-look renderings by the award-winning design firm Avenue Interior Design. Solana Bay promises an unparalleled coastal sanctuary with its elegant architecture and seamless blend of indoor and outdoor living.
With just 52 elevated residences, Solana Bay offers an exclusive living experience. The residences range from two to four bedrooms, each featuring masterfully executed design and customizable options for a personalized touch. The interiors exude a warm and inviting ambiance with museum-quality finishes and flow-focused layouts that maximize stunning views from every angle.
Located at 2305 NE 123rd St. in North Miami, Solana Bay is a collaboration between BH Group and Kolter Urban, with architectural design by Arquitectonica. Sales and marketing are managed by Douglas Elliman Development Marketing, ensuring a seamless experience from purchase to move-in.
Solana Bay’s luxury address offers a range of amenities designed to enhance residents’ lifestyles. The lobby features a private dining area and bayfront terrace, while the Residents Lounge provides morning coffee, tea, pastries, and a weekly wine and cheese happy hour. The rooftop pool deck offers a private-club atmosphere with cabanas, daybeds, and an outdoor bar.
Fitness enthusiasts will appreciate the state-of-the-art Fitness Center, complete with yoga and Pilates studios, and an outdoor space for meditation. For those who love the water, a standup paddleboard launch and storage allow easy exploration of Biscayne Bay. Additional amenities include a TV Lounge & Library, Executive Board Room, Game Room, Library Lounge, and a paved Bay Walk for leisurely strolls along the shoreline.
Solana Bay represents a departure from typical high-rise towers in Miami. Its design focuses on balance, calm, and luxury, creating a living experience unlike any other. The residences and amenities reflect a sense of warmth and elegance, with textures, materials, and finishes that create a luxurious and welcoming atmosphere.
Penthouse at Rivage Bal Harbour Hits the Market for $75 Million
A stunning ultra-luxe penthouse has recently hit the market at Rivage Bal Harbour for $75 million, setting the one-of-a-kind unit as one of the most expensive listings in Miami. Rivage Bal Harbour is a 54-unit luxury oceanfront condominium being developed by Related Group, Two Roads Development, and Rockpoint and is one of the neighborhood’s first new developments in 20 years.
The penthouse offers 5 bedrooms, 7 bathrooms, and 3 powder rooms, spanning a total of 17,521 SF. The interior measures 12,603 SF, while the exterior offers 4,918 SF of space. Unique features of this penthouse include a multi-level terrace, private outdoor pool, media room, game room, library/lounge, fitness studio, outdoor kitchen, and a private elevator.
Residents of Rivage Bal Harbour will have access to a private beachfront enclave and a wide range of resort-style amenities. The development offers 25,000 SF of exceptional amenities, including a luxury spa, fitness pavilion with ocean views, game rooms, multiple lounges, and a world-class restaurant overlooking the beach and ocean.
Some of the key amenities at Rivage Bal Harbour include:
Signature oceanfront dining experience: Exclusively for residents and their guests.
Curated social spaces: Media room, library, breakfast bar, and cocktail lounge.
Activities deck: Resort-style pools, outdoor spa, sunbeds, cabanas, poolside food and beverage service, pickleball and padel courts.
Rivage spa: Sauna, hammam, hot and cold plunge pools, and private treatment rooms.
Fully serviced beach club
State-of-the-art fitness center: High-impact training room and yoga studio.
Virtual reality game simulator
Imaginative children’s playroom
Bicycle storage
Service amenities at Rivage Bal Harbour include a residential butler and estate manager to facilitate deliveries, errands, and in-residence services such as personal chef services, shopping, medical concierge, housekeeping, laundry/dry cleaning, and maintenance. Additional services include in-residence dining and catering, 24-hour security and valet services, a house car, on-site general manager, and a mailroom with secure package technology.
For those interested in this exclusive penthouse, a unique sales experience utilizing Fortnite technology is available for ultra-realistic virtual reality tours. This cutting-edge technology allows buyers to explore and share tours via a link, with instantly interchangeable finishes to explore various possibilities.
Bal Harbour has been an elite enclave since its inception in 1929, offering one of the most sophisticated and culturally rich versions of South Florida’s glamorous lifestyle. With its luxurious amenities and unparalleled features, the $75 million penthouse at Rivage Bal Harbour truly embodies the epitome of luxury living in Miami.
Foundation Pour Completed for Mercedes Benz Places Miami
The foundation pour for the impressive 67-story Mercedes Benz Places Miami has been successfully completed, as announced by the developer on their social media account. This significant achievement sets the stage for the vertical construction, which is scheduled to commence in July.
The foundation pour took place in the last week, involving a colossal effort with over 10,000 cubic yards of concrete being transported to the site. This marks one of the largest concrete pours in the region, highlighting the scale and ambition of the project.
Mercedes Benz Places is not just another building; it is one of the largest developments currently under construction in Florida. The project spans an impressive 2.5 million square feet, making it a significant addition to the state’s skyline.
Upon completion, Mercedes Benz Places will feature 791 residential units, providing luxurious living spaces in the heart of the city. In addition to the residential units, the development will include office spaces, a hotel, retail outlets, and various amenity spaces, offering a comprehensive and vibrant community for its residents and visitors.
With the foundation pour now completed, all eyes are on the upcoming vertical construction phase set to begin in July. As the tower begins to rise, it will not only transform the skyline but also set new standards for mixed-use developments in the region.
Boasting 791 residences ranging from studios to three-bedroom condominiums, each unit offers panoramic views of Miami, Biscayne Bay, and the Atlantic Ocean. Beyond its residential offerings, the tower will feature 130,000 square feet of amenities and hospitality space, 200,000 square feet of office space, a 174-key hotel, retail outlets, and ample on-site parking.
What sets Mercedes-Benz Places apart is its commitment to innovation and sustainability. The project incorporates cutting-edge mobility solutions, including EV charging stations, valet parking, and bike-sharing programs, ensuring residents embrace a seamless urban lifestyle. Moreover, sustainability lies at the core of its design, with initiatives such as energy-efficient production and water conservation contributing to a greener, more eco-conscious community.
ABH Developer Group Unveils Two Exciting Projects in Wynwood Norte
ABH Developer Group is transforming the Wynwood district in Miami with two newly launched projects, Wyn Ave and W35. Following the successful initiation of Casa Wyn and Wyn 05, these fresh developments are set to bring modern living and vibrant community spaces to the heart of Wynwood.
Situated at 3332 NW 5th Ave., Wyn Ave is a six-story building that combines residential and retail spaces. This mixed-use development will house 44 apartments alongside 2,370 square feet of ground-floor retail area. Designed by Modis, Wyn Ave is characterized by its sleek, urban aesthetic and smart living spaces. The apartments range from studio to two-bedroom units, with sizes spanning from 423 to 874 square feet. Each unit is equipped with high-end finishes, modern kitchens, and in-unit laundry facilities.
The ground floor will feature five retail spaces, designed to bring energy and convenience to the neighborhood. A notable retail tenant, to be announced soon, will add to the vibrancy of the community. Wyn Ave offers a host of amenities including a rooftop pool deck, fitness center, garden areas, co-working spaces, and electric vehicle charging stations. With rents starting at $2,400, Wyn Ave provides an attractive option for those looking to live in a prime Miami location. The project is expected to be completed by the third quarter of 2025.
Located at 319 NW 35th St., W35 is another innovative project by ABH Developer Group. This five-story development will feature 24 apartments and 2,500 square feet of ground-floor office space. W35 shares a modern design with Wyn Ave, courtesy of Modis, offering a cohesive aesthetic across both projects. The apartments at W35 include studio, one-, and two-bedroom units, ranging from 477 to 510 square feet. Each unit features contemporary finishes, walk-in closets, and in-unit laundry.
Residents of W35 will enjoy a rooftop terrace equipped with a barbecue area and solarium, perfect for relaxation and social gatherings. The development also includes outdoor workspaces, creating a productive and serene environment. To promote sustainable living, W35 will offer complimentary on-demand electric scooters for residents, making it easy to navigate Wynwood, the Design District, and Midtown. W35 is set for completion in the second quarter of 2025.
MG3, the general contractor for both projects, is bringing these modern designs to life. ABH Developer Group’s commitment to innovation and community-focused development is evident in these new projects, which aim to enhance the living experience in Wynwood Norte.
These projects signify a significant step forward in urban living, offering modern amenities and sustainable transit options in one of Miami’s most vibrant districts.
New Construction in Miami Beach-Ella Miami Beach
Following the announcement of 299 Minorca, an eight-story, mixed-use venture, the Constellation Group and Boschetti Group have unveiled their next ambitious project: Ella Miami Beach. This upcoming residential tower promises to bring a new level of luxury and modern living to Miami Beach.
Ella Miami Beach is set to be a 10-story residential tower featuring 95 condominiums. Ella Miami Beach will offer a variety of living spaces, ranging from studio to two-bedroom layout plans, with unit sizes spanning from 434 to 1,076 square feet.
Residents of Ella Miami Beach will enjoy a plethora of amenities designed to enhance their living experience. The homes will feature expansive outdoor terraces, plank-style flooring, and various high-end finishes that provide a touch of elegance and comfort.
Amenities:
A rooftop swimming pool
A pickleball court
A fitness center
Additional offerings to cater to a modern lifestyle
These features are sure to provide residents with ample opportunities for recreation and relaxation. Condo sales for Ella Miami Beach began in June 2023, and the development has already seen significant interest, with 36 percent of the units sold. Although construction has not yet started, the project’s website anticipates completion by the first quarter of 2026.
Ella Miami Beach is not just about residential living; it will also include 2,200 square feet of retail space, adding convenience and vibrancy to the area. The high-rise has been designed by the internationally renowned, Miami-based firm Arquitectonica, ensuring a striking and modern architectural presence.
The developers purchased the 25,000-square-foot parcel for Ella Miami Beach in February 2023 for $5.5 million. The site is located at 6940 Abbott Ave, Miami Beach, FL, 33141, in the vibrant Miami-Dade County.
Ella Miami Beach is set to become a landmark of luxury and modern living in Miami Beach. With its high-end amenities, stunning design, and prime location, it offers a promising new option for residents seeking the best in Miami Beach living. Stay tuned for more updates as this exciting project progresses towards its anticipated completion in early 2026.
