Tag Archives: coral gables real estate

The Collection Coral Gables

CMC Group Secures $69.9 Million Loan for 4000 Ponce/The Collection in Coral Gables

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The Collection 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.

Coral Gables’ 4225 Ponce Development, a Class A+ Commercial and Retail Opportunity

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Coral Gables' 4225 Ponce Development

Constellation Group, a distinguished commercial real estate investment and development firm based in Miami, in collaboration with The Boschetti Group, has successfully secured a substantial $33 million construction loan from Miami’s Banesco USA and Abanca. This funding is a strategic investment in the development of a Class A+ boutique office and retail complex at 4225 Ponce de Leon Boulevard, located in the heart of Coral Gables, South Florida’s City Beautiful and Merrick Park district. Renowned for its upscale shopping and entertainment, this area is a hub for economic growth and opportunity.

Eduardo Otaola, the Managing Principal at Constellation Group, highlighted the significance of this partnership and the potential of 4225 Ponce to introduce a unique, boutique-style Class A office environment to Coral Gables. This development is strategically positioned in a market that is currently experiencing limited supply, making it an attractive investment opportunity.

The project involves an eight-story building, spanning approximately 85,000 square feet between 4225 and 4311 Ponce de Leon. This venture is distinguished by its innovative design from the internationally acclaimed architectural firm, Arquitectonica. The luxury boutique-style Class A Office will feature 5,900 square feet of ground floor retail space, extensive parking facilities, 70,000 square feet of premium office space, and a rooftop food and beverage venue of 7,000 square feet, offering panoramic city views.

Amelia Rodriguez, Senior Vice President of Banesco USA, expressed optimism about the sustained economic growth in South Florida and the role of 4225 Ponce in enriching Coral Gables’ status as a prime business and cultural hub. This project aligns with Banesco USA’s vision of investing in innovative and dynamic projects, indicating a strong future for similar endeavors.

Monica Vasquez, General Manager at Abanca, emphasized the transformative nature of this collaboration, aimed at enhancing the urban, cultural, and economic landscape of Coral Gables. This development is a testament to Abanca’s commitment to supporting visionary and impactful projects.

Set to break ground in Q4 2023 and slated for completion in 2025, this project signifies a major revitalization initiative around Coral Gables’ Merrick Park district. It aims to elevate the business and consumer landscape of the area. Interior Architects, Inc. and Naturalificial will play crucial roles in designing the interior and landscape, ensuring a harmonious blend of nature and modernity.

Investors should note the project’s unique features, including four stories of Class A+ office space, a rooftop restaurant with city views, outdoor terraces, ground-floor retail spaces, and a 1,500-square-foot lounge. The addition of a covered pedestrian plaza and paseo with valet parking service is expected to enhance the appeal and functionality of the development, making it a lucrative investment opportunity in a thriving economic zone.

The Avenue Residences and Hotel

The Avenue Hotel & Residences Breaks Ground

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The Avenue Hotel & Residences

The Avenue Hotel & Residences Coral Gables, an exclusive 8-story Parisian-inspired neo-classical boutique condominium and hotel, has commenced construction. This prestigious development, situated directly opposite Merrick Park, is the brainchild of Oscar Roger, President and CEO of the esteemed Roger Development Group, a family-run entity renowned in the real estate development and management sector.

The groundbreaking ceremony, a significant event in the property’s journey, was held on November 1st at the project’s sales center at 351 San Lorenzo Avenue. Spearheaded by the formidable father-son duo, Oscar, Sr. and Oscar Roger, Jr., the event was graced by their partners Zarko Cukic, Jose Espantoso, and Veronica Rey, alongside key figures from the design team. This includes Architect Willy Bermello of Bermello Ajamil & Partners, Interior Designer Adriana Hoyos, and Alicia Cervera Lamadrid, a principal figure at Cervera Real Estate. Thornton, the project’s general contractor, was also represented.

The event attracted Coral Gables Mayor Vince Lago and over 75 influential members of the local civic and business community. The gathering was a celebration of the project’s progress, marked by a toast and the ceremonial first sand toss using branded silver shovels.

Oscar Roger, the driving force behind the project, expressed his enthusiasm for this landmark development, emphasizing its alignment with Coral Gables’ world-class standards. Oscar Roger, Jr. highlighted the project’s evolution from a concept to a city-defining landmark, praising Cervera Real Estate for their exceptional sales performance, with over 75% of the units already sold.

Cervera Lamadrid of Cervera Real Estate, the exclusive sales and marketing firm for the project, expressed confidence in its success, citing its exceptional design, quality, and prime location opposite Merrick Park as key factors driving demand.

The Avenue Hotel & Residences Coral Gables is not just a property, but a statement of luxury and exclusivity. It offers 48 residences with sophisticated one- and two-bedroom layouts, ranging from 598 to 1,200 square feet, and priced between $730,000 to over $1.3M. Each unit boasts contemporary Italian-style kitchens and baths, equipped with high-end appliances from Miele, Subzero, or Wolf. The property features over 3,800 square feet of ground floor retail space, a front desk reception, and hotel services designed to elevate the living experience. Amenities include valet parking, newspaper and package delivery services, and a resort-style pool deck on Level 9 with a summer kitchen and dining area.

The project is slated for completion in early 2025, promising to be a beacon of luxury and sophistication in the city.

The Avenue Residences and Hotel

The Avenue Hotel & Residences Coral Gables Scheduled to Break Ground in November 2023

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The Avenue Residences and Hotel

In the heart of Miami-Dade County, a new Parisian-inspired mixed-use development is set to redefine luxury living and investment opportunities. The Avenue Hotel & Residences Coral Gables, spearheaded by the renowned Roger Development Group, is not just another real estate project. It’s an emblem of opulence and strategic investment.

With groundbreaking slated for early November, this venture has already garnered significant interest with over 65% of residences already sold.

The Avenue Hotel & Residences Coral Gables stands as an eight-story mid-rise edifice, boasting 48 exquisitely designed residences. Each home, ranging from 598 to 1,200 square feet, is a masterpiece in itself, coming fully furnished and ready for occupancy. For those keen on retail opportunities, the ground floor will house six retail condos, all of which have already been snapped up.

For potential investors or residents, the remaining units are priced between $730,000 to $1.3 million. Beyond the individual units, the community offers a plethora of amenities designed for an elite lifestyle. From a state-of-the-art summer kitchen and a lavish swimming pool deck to a family dining area, every feature speaks of luxury and comfort.

Its strategic location further enhances its appeal. Situated just a short distance from the Shops at Merrick Park, residents and visitors have easy access to a myriad of dining options and commercial ventures.

The project’s architectural brilliance can be credited to Bermello Ajamil & Partners, while Thornton Construction Co. takes the helm as the general contractor. The Avenue Hotel & Residences Coral Gables will grace an 11,000-square-foot lot at 351 San Lorenzo Avenue, Coral Gables, FL, 33146.

Kitchen The Village of Coral Gables

Updated Renderings Revealed for MG’s New Village of Coral Gables 48 Residence Tower

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Kitchen The Village of Coral Gables

Prior to breaking ground and shortly after the official launch of its cutting-edge, on-site showroom, MG Developer unveiled updated renderings of the opulent interiors of The Village at Coral Gables new development.

The Village at Coral Gables, which offers 48 units spanning over four separate collections—Townhomes, Lofts, Villas, and Flats—is one of the most eagerly awaited development to enter Coral Gables’ market.

The style and size of the units varies, ranging from elegant flats with two bedrooms, a study, and a balcony to attractive townhomes with four bedrooms that are 1,750 to 3,100 square feet in size. The traditional yet contemporary village will also have smart recreational features for residents to enjoy, such as a Club House, Fitness Center, Business Center, and a Pool with a Pool House.

The Village at Coral Gables site is situated at 535 Santander Avenue and spread across 17 lots. By 2024, the $50 million development should be finished according to the developer.

The project’s carefully chosen interiors pay homage to Seville, Spain’s aesthetic elegance and way of life, and carry on the heritage of Coral Gables’ creator and dreamer, George Merrick, and his idea of “The City Beautiful.” Furniture was chosen from RH (Restoration Hardware), which has established its design dominance in the market for luxury lifestyle products.

The Mediterranean Revival-style design of The Village at Coral Gables will be modeled after the Ibero-American Exposition of 1929 in Seville’s Plaza de Espaa, which served as the neighborhood’s energetic hub and was ringed by gardens, courtyards, and magnificent fountains.

Primary Suite The Village of Coral Gables
Bathroom Renderings for the Village of Coral Gables

MG’s design team, lead by architect Maria De La Guardia of De La Guardia Victoria Architects & Urbanists, was inspired by Merrick’s seven towns and created ageless architecture that blends with the naturally lit houses, facilities, and common places.

The Village at Coral Gables is surrounded by lush, tree-lined streets that give the impression of being in the suburbs, but it is actually just a short stroll from Downtown Coral Gables, as well as being close to some of South Florida’s most prestigious golf courses, The Biltmore Hotel, popular tourist destinations, and top restaurants. The Village at Coral Gables is positioned to sell out rapidly because of all the amenities it offers, as well as its magnificent design and luxurious lifestyle.

The Village of Coral Gables New Renderings