{"id":138030,"date":"2026-01-30T20:02:17","date_gmt":"2026-01-30T20:02:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/138030\/"},"modified":"2026-01-30T20:02:17","modified_gmt":"2026-01-30T20:02:17","slug":"cmc-and-fort-partners-secure-324m-to-build-miami-four-seasons-condo-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/138030\/","title":{"rendered":"CMC and Fort Partners Secure $324M to Build Miami Four Seasons Condo \u2013 Commercial Observer"},"content":{"rendered":"

CMC Group<\/a> and Fort Partners<\/a> secured a $323.8 million construction loan from Bank OZK<\/a> for a Four Seasons-branded condo in Miami\u2019s Coconut Grove neighborhood, the developers announced.\u00a0<\/p>\n

The 20-story Four Seasons Private Residences Coconut Grove will feature 70 condo units. Construction, which got underway in October, is expected to be completed in mid-2028.\u00a0<\/p>\n

SEE ALSO: Wells Fargo Supplies $190M Refi for Boston Multifamily Projects<\/a><\/p>\n

The development will rise on a 1.2-acre site at 2699 South Bayshore Drive, adjacent to Southwest 27th Avenue, facing Regatta Park. The joint venture demolished a nine-story office building that was completed in 1972 and designed by Kenneth Treister.\u00a0<\/p>\n

CMC Group purchased the asset in 2020, before partnering with Fort Partners, which owns all Four Seasons properties in South Florida, The Real Deal reported<\/a>. The joint venture launched sales in 2024 for the project, which will be the Four Seasons\u2019 first stand-alone condo building in Florida without a hotel component.<\/p>\n

\u201cThe level of interest was exceptional, with more than 10 lenders providing highly competitive terms,\u201d Ugo Colombo, founder of CMC Group, said in a statement. Jim Shindell and Hannah Lidicker of law firm Bilzin Sumberg<\/a> represented the development team in the transaction.<\/p>\n

The Luis Revuelta-designed project is over 50 percent presold, per a representative for the developers, who declined to provide sales figures.\u00a0<\/p>\n

The loan is yet another sign of Coconut Grove\u2019s status as one of Miami\u2019s most coveted residential neighbourhoods. In the past few months, Google\u2019s billionaire co-founder Larry Page has spent nearly $200 million on estates in the area. In 2024, Citadel\u2019s billionaire founder Ken Griffin paid $110 million for a waterfront compound.<\/p>\n

The financing comes just days after Terra nabbed<\/a> a $410 million construction loan \u2014 the largest in Coconut Grove\u2019s history \u2014 for a boutique condo development. The eight-story Well Coconut Grove development is set to include 194 units.<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"CMC Group and Fort Partners secured a $323.8 million construction loan from Bank OZK for a Four Seasons-branded…\n","protected":false},"author":2,"featured_media":138031,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[67345,11938,67346,123,125,124,67347],"class_list":{"0":"post-138030","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-miami","8":"tag-2699-south-bayshore-drive","9":"tag-four-seasons","10":"tag-four-seasons-private-residences-coconut-grove","11":"tag-miami","12":"tag-miami-headlines","13":"tag-miami-news","14":"tag-ugo-colombo"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/138030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=138030"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/138030\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/138031"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=138030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=138030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=138030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}