SHVO, the ultra-luxury real estate development and investment firm led by Michael Shvo, has secured $190 million in new financing for The Raleigh Hotel & Residences, Miami Beach, a significant milestone in the next chapter of the iconic art-deco storied property. The loan, provided by BH3 Debt Opportunity Fund II, L.P. led by BH3 Management through its opportunistic credit platform, closed earlier this week. Construction is well underway and the property is on-track to open in 2026.
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Related Group And Rockpoint Sign Leases With Three New Retail Tenants At Manor at Miramar
Related Group, Rockpoint, and JLL have signed leases with three retail tenants at the new, mixed-use development Manor at Miramar now under construction in the heart of Miramar, Florida. Crema Gourmet, Sweat440, and The Spot Barbershop are the first retail tenants announced at the project located at 1 Main Street in Miramar where approximately 17,600 square feet of ground-level retail space remains available for lease.
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First Penthouse At Cipriani Residences Miami Sells Just Weeks After Hitting Market For $16.2 Million
The first of six penthouses at Cipriani Residences Miami, the Cipriani brand’s first-ever ground-up residential tower in the nation which is being developed by Mast Capital, has sold just weeks after hitting the market for $16.2 million. Penthouse 1 is an impressive four-bedroom home with 9,221 SF of combined indoor and outdoor space. Listed at $16.2 million, translating to a record-breaking $3,333 PSF, the penthouse emulates the prestige of the Cipriani brand.
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Scott Wadler (Berkadia), Ayush Kapahi (HKS), Diego Torellaba (MG Developer), Catie Naranjo (MG Developer), Melissa Tapanes (Berkow), Demetri Demascus (PROFILEmiami) and Alirio Torellaba (MG Developer)
Inside 'An Exploration Into Capital Markets Coral Gables' Presented By PROFILEmiami & MG Developer
On Tuesday July 25, 2023 PROFILEmiami teamed-up with MG Developer to present ‘An Exploration into Capital Markets Coral Gables’, bringing an immersive panel and cocktail event exploring capital markets and real estate development in South Florida to the beautiful ‘Village at Coral Gables’ showroom. The relaxed and open setting featured cocktails courtesy of MG Developer and food from Coral Gables staple restaurant, Zucca, while attendees networked with industry leaders one of Miami’s hotbed neighborhoods for business and development.
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The Avenue Coral Gables Hotel & Residences Reaches 65% Sold
The Avenue Hotel & Residences Coral Gables, a Parisian-inspired neo-classically designed boutique tower and hotel on San Lorenzo Avenue in Coral Gables, has hit 65% percent in pre-construction sales. Located at 351 San Lorenzo Avenue, The Avenue Coral Gables Hotel & Residences is being developed by Roger Development Group, a Coral Gables-based family-owned, fully integrated real estate development and management company.
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Elysee Investments Acquires Retail Property Across From Former Deauville Development Site For $5.5 Million
Elysee Investments, one of Miami Beach’s largest retail owners, $5.5 million sale of 6644 Collins Ave. in Miami Beach, an 8,700-square-foot corner retail property with four tenants. The one-story, freestanding building is located directly across the street from the famed, 3.8-acre Deauville Hotel site, which features 500 feet of beachfront. The Deauville Hotel site has made headlines for years as the famed hotel fell into an unsalvageable state before controversially being demolished.
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Alex Witkoff of Witkoff Group and Shore Club Private Collection (Photo by Glen Allsop, Rendering via The Boundary)
Witkoff Group and Monroe Capital Close On Record-Breaking Loan For Shore Club Private Collection
Witkoff Group, a Miami-based development and investment firm, and Monroe Capital, a premier asset management firm, have closed on a $430 million construction loan for Shore Club Private Collection, which is on track to be one of the fastest-selling luxury developments in Miami Beach’s history. Financed by J.P. Morgan, the loan is believed to be the largest for a residential construction project in South Florida.
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Nick Kyrgios trying YUPIX Meta-Reality™ at the E11EVEN Residences Beyond Sales Gallery - Image via World Red Eye
Nick Kyrgios Spotted Shopping For Miami Real Estate at E11EVEN Residences Beyond in Downtown Miami's District 11
No Wimbledon, No Problem: Controversial Australian tennis star Nick Kyrgios pulled out of the 2023 Wimbledon last minute due to a wrist injury but seems to be enjoying himself away from the court while he rehabs his wrist. At the 2022 Wimbledon, Kyrgios lost in the finals to Novak Djokovic, who, on Sunday (July 9, 2023), was back in London playing at Wimbledon, where he won an intense match against Herbert Hurkacz to advance to the quarterfinals.
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PMG and Greybrook Lock Down $226 Million Construction Loan For Phase 2 Of Society Las Olas
Leading real estate development firm PMG and private equity firm Greybrook have secured $226 million in construction financing for phase two of Society Las Olas, a 42-story apartment community located in Downtown Fort Lauderdale at 140 SW 2nd St. The loan was provided by Related Fund Management and Lubert-Adler. John Moriarty & Associates is the general contractor of Society Las Olas’ second phase, which is currently completing groundwork and is slated for completion in Q1 2026.
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Rendering via Binyan Studio
Honoring Tradition, Defining the Future: The St. Regis Residences, Miami
The St. Regis New York, founded by the visionary John Jacob Astor IV in 1904, played a pivotal role in the evolution of New York City’s Fifth Avenue. Rising as the tallest structure of its time, this architectural masterpiece not only reshaped Manhattan’s skyline, but also served as a pioneering model for innovation and excellence that revolutionized the hospitality industry.
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