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.