Ciprés and Rilea Group Land $90 Million Construction Loan from Banco Inbursa for The Rider Residences in Wynwood

A new wave of energy is coming to Miami’s Wynwood-Midtown corridor, where Rilea Group and Ciprés have secured a $90 million construction loan from Mexico’s Banco Inbursa to fund development of The Rider Residences, a 12-story, 146-unit luxury condominium slated for completion in 2027.

The financing, arranged by Javier Herrera of Franklin Street, signals strong international confidence in Miami’s boutique luxury condo market — particularly for projects that fuse design, culture, and technology.

A Boutique Vision Rooted in Art and Urban Culture

Following a February 2025 groundbreaking, vertical construction is set to begin later this year at 94 NE 29th Street, a site located steps from Whole Foods and across from Amazon’s upcoming Miami headquarters. Designed by Deforma Studio with interiors by RADYCA, The Rider draws inspiration from 1970s music, fashion, and film, pairing SoHo-style industrial architecture with Miami’s contemporary art-driven aesthetic.

“The Rider represents a new benchmark for design-driven living in Miami, blending architecture, art, and culture in a way that feels both distinctive and timeless,” said Diego Ojeda, Founder of Ciprés and President of Rilea Group. “Partnering with Banco Inbursa, one of the most respected names in international development finance, underscores the strength of this vision. Their confidence in The Rider reflects the project’s unique appeal, and our collaboration has been instrumental in bringing it to life.”

Residences at The Rider will be delivered fully furnished, ranging from studios to three-bedroom units (386 to 1,612 square feet) with pricing from the $500,000s to over $2.5 million. Buyers are responding to The Rider’s bold, art-driven lifestyle, with strong pre-sales activity fueled by demand from European, South American, and New York buyers. The project’s distinctive design, prime location, and flexible ownership model have helped generate significant early momentum in Miami’s competitive luxury condo market.

Design Details: Where Retro Meets Refined

Inside, RADYCA — known for its superyacht and high-end residential work — layers bold textures, mid-century furnishings, and a $1 million fine-art photography collection from Morrison Hotel Gallery and Iconic Images Gallery. Residences feature Bertazzoni appliances, Italkraft cabinetry, Cosentino Dekton countertops, and Porcelanosa bath fixtures, complemented by smart home technology and impact-resistant windows.

The building’s amenities are designed as an urban resort: a rooftop pool with skyline views, restaurant and speakeasy accessible via private elevator, pet spa, wellness center with cold plunges, infrared saunas, IV therapy, and a traditional Hammam/Turkish bath. Other highlights include private office suites, a hi-fi vinyl listening room, and a fleet of Harley-Davidson motorcycles, Vespas, and e-bikes available to residents.

Forward-Thinking Development Backed by Global Capital

The Rider marks one of the few Miami condo developments to accept cryptocurrency transactions, part of a growing push toward tech-integrated living. Its location — at the intersection of Wynwood, Midtown, Edgewater, and the Design District — places it at the epicenter of Miami’s creative and economic renaissance.

Banco Inbursa, part of Grupo Financiero Inbursa and majority-owned by billionaire Carlos Slim, has expanded its Miami footprint since 2008, financing several high-profile developments. The bank cited The Rider’s “distinctive design and visionary team” as key factors in its decision to back the project.

A Legacy of Miami Innovation

Rilea Group, founded in 1981, has developed over 10 million square feet of real estate in South Florida, including 1450 Brickell, The Bond on Brickell, and One Broadway. The Rider marks the first residential project under its Ciprés brand — a concept founded by Ojeda to blend European elegance with Miami’s contemporary creative energy.

Construction is being led by Beauchamp Construction, one of the region’s most experienced general contractors.