CLIENT NEWS: MG Developer lines up $39M loan to build Coral Gables townhome project

July 17, 2025

MG Developer’s pipeline keeps pumping along as Alirio Torrealba’s firm is about to score a $39 million construction loan for a Coral Gables townhome project. Miami-based Pine Bay Capital is providing the financing for The George, a planned development of 13 two-story townhouses at 717 Valencia Avenue that represents the final phase of MG Developer’s Biltmore Square community, a press release states. The loan is set to close soon, an MG Developer spokesperson said. Coral Gables-based MG Developer already completed[...]

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CLIENT NEWS: Miami Beach commission grants initial approval of Deauville redevelopment

March 24, 2025

Miami Beach commissioners approved land use changes that will allow the Meruelo family and David Martin’s Terra to build a larger project on the oceanfront property that was previously home to the Deauville Beach Resort. The commission on Wednesday evening voted six to 1, with commissioner David Suarez casting the sole ‘no’ vote, on first reading to approve two amendments that would apply to the 3.8-acre oceanfront property at 6701 Collins Avenue in North Beach. Mayor Steven Meiner and commissioners[...]

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CLIENT NEWS: Ritz Carlton South Beach condo launches sales at $4.25 million

March 19, 2025

Developers have launched sales for a future 15-story Ritz-Carlton that will rise behind the historic Sagamore Hotel in South Beach. Prices for the 30 units that will be built at the Ritz-Carlton Residences, South Beach will start at $4.25 million "with the potential to reach $125 million for a combined purchase of two penthouses," said a release issued by developer Flag Luxury Group and owner Sobe Sky Development. Each of the one- to five-bedroom residences offers up to 8,104 square[...]

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CLIENT NEWS: Adam Neumann’s Flow nabs $51M loan for $71M El Portal site purchase, partners with Canada Global on mixed-use development

March 19, 2025

Adam Neumann’s Flow nabbed a $51 million acquisition loan and is partnering with Canada Global for a planned mixed-use project on an El Portal development site. New York-based Ladder Capital provided the mortgage to a Delaware entity with ties to Flow that paid $71.5 million for a 16-acre former trailer park at 8500 Biscayne Boulevard, records show. Canada Global, an Israeli real estate firm led by Assaf Tuchmair and Barak Rosen, came on board as a majority partner shortly after[...]

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CLIENT NEWS: Swerdlow proposes replacing Miami public housing complexes with 5,000-plus apartments with affordable, workforce units

March 12, 2025

Developer Michael Swerdlow wants to develop 5,730 multifamily units with some affordable and workforce apartments, replacing five public housing complexes across Miami. Coconut Grove-based Swerdlow Group’s project also will include 370,000 square feet of commercial space such as offices and a school; 250,000 square feet of open space and amenities and a new Tri-Rail passenger train station, according to Miami-Dade records. The project would replace the existing public housing complexes of Victory Homes at 520 Northwest 75th Street, Newberg at[...]

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CLIENT NEWS: Kolter, BH seek redevelopment approval for Miami Beach oceanfront site they listed for $110M

March 12, 2025

Kolter Group and BH Group are pursuing a redevelopment plan for an oceanfront hotel that the joint venture recently listed with a whisper price of $110 million. Delray Beach-based Kolter’s hospitality division and Aventura-based BH submitted a site plan application with the city of Miami Beach to tear down the Crystal Beach Suites Miami Oceanfront Resort at 6985 Collins Avenue, as well as a neighboring historic Art Deco property, Normandy Plaza Hotel at 6979 Collins Avenue. A 19-story boutique condominium[...]

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