Terra and New Valley, the development partners behind Natura Gardens, a new multifamily community in Northwest Miami-Dade County, have secured $127 million in permanent financing for the development. The loan, issued by an affiliate of MF1 Capital, will be used to pay off and refinance an existing $65 million construction loan, which was provided in 2021 by Bank OZK. Completed in Summer 2023, Natura Gardens includes 460 garden-style rental apartments across 23-acres in Miami’s West Hialeah neighborhood.
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Only Luxury Condominium to be Delivered in South Beach This Year Tops Off
Terra, led by David Martin, and GFO Investments, led by Russell Galbut, topped out construction for Five Park Miami Beach, the only high-rise residential condominium delivered in South Beach this year. A visual beacon marking the entryway into Miami Beach, the development pairs a landmark residential tower with the adjacent three-acre Canopy Park and art-inspired Canopy Bridge.
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Rendering via BINYAN Studios
FIRST ON PROFILE: Terra Unveils Plans For Mr. C Hotel & Residences in West Palm Beach With Signature Bellini Restaurant
FIRST ON PROFILE: West Palm Beach will soon welcome its first branded luxury real estate development to one of Florida’s fastest growing metropolitan cities. Terra, one of South Florida’s most active real estate development firms, and the Palm Beach-based Morrison family’s Sympatico Real Estate, have unveiled plans for Mr. C Hotel & Residences in West Palm Beach, Florida.
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Kane Sarhan, Chief Creative Office of THE WELL & David Martin, CEO of Terra
Terra Breaks Ground on The Well Bay Harbor Islands
Miami-based real estate developer Terra, led by David Martin, and Internationally-acclaimed wellness brand, THE WELL, have broken ground on THE WELL Bay Harbor Islands located at 1100 Kane Concourse in Miami’s Bay Harbor Islands. The groundbreaking took place on October 9th with the residences already at 50% sold. THE WELL Bay Harbor Islands is an eight-story luxury residential building with 54 bespoke residences and more than 22,000 SF of amenities.
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Terra Completes Doral Atrium Lifestyle-Driven Retail Development in Doral
Terra, one of South Florida’s most active commercial and residential development firms, has completed construction of Doral Atrium, a 78,000 square foot lifestyle-driven retail development in Miami’s burgeoning City of Doral. News of Doral Atrium’s completion accompanies the signing of a 1,480 square foot new-to-market lease with TREMBLE Pilates Studio at the development.
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Terra and Lion Development Group Acquire Midtown Development Site For $40 Million
A joint venture between leading Miami-based developers Terra, led by David Martin, and Michael Simkins’ Lion Development Group, has closed on the $40 million purchase of a prime 1.6-acre piece of property located at 3501 NE 1st Avenue in Miami. Plans call for an iconic luxury condominium tower designed by Miami-based architect Arquitectonica and international design studio Yabu Pushelberg set to rise at the nexus of Miami’s most in-demand neighborhoods.
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Investment Group Led by David Martin Set To Acquire Former-Miami Herald Development Site For $1.225 Billion
SmartCity Miami LLC, an investment group led by Miami-based Terra and it’s CEO David Martin is set to acquire the former-Miami Herald headquarters development site for a record $1.225 billion from Genting Group. The investment group has finalized terms for the acquisition of the 15.5-acre site which features 800’ of direct frontage on Biscayne Bay, the closing is set to take place later this year.
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Terra Locks Down $43.5 Million Refinancing For 'Residences In The Grove' Coconut Grove Condo
Terra, in partnership with AB Asset Management, has secured a $43.2 million refinancing loan for Residences in the Grove, a 148-unit luxury condominium located at 2835 Tigertail Avenue in the heart of Miami’s Coconut Grove neighborhood. The financing, provided by City National Bank of Florida and KS Finance Corporation, will fund preliminary demolition and site-work in preparation for the project’s groundbreaking.
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Terra and Turnberry Tap Balfour Beatty As GP For Grand Hyatt Miami Beach Convention Center Hotel
Two of South Florida’s premier real estate developments groups, Terra and Turnberry, have selected Balfour Beatty as the general contractor for the new Grand Hyatt Miami Beach Convention Center Hotel. Located at the intersection of 17th Street and Convention Center Drive, the 17-story, 800-room hotel will serve as the central anchor of the Miami Beach Convention Center District
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FIVE PARK UNVEILS PLANS FOR FIRST RESIDENTS-ONLY MEMBERS CLUB
Terra and GFO Investment’s Five Park, the newest luxury residential tower rising in Miami Beach, reveals plans for the first residents-only, fully serviced social club within a luxury condominium. The Canopy Club features a social amenity package rooted in cultural programming, wellness and elevated culinary offerings.
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