Fortress Provides $90M Construction Loan for Continuum's Bay Harbor Islands Condo

Continuum Company has recently announced securing an impressive $90.1 million in construction financing from Fortress Credit Corporation for the completion of La Baia South, which is part of the prestigious La Baia condo complex nestled in the beautiful Bay Harbor Islands in Florida.

La Baia South, an eight-story waterfront development located at 9201 East Bay Harbor Drive, will feature 68 luxurious residential units. Construction for this highly anticipated project began in April 2022 and is slated for completion in 2025, offering an exquisite living experience like no other.

While La Baia South progresses steadily, the second phase of the project, La Baia North, is yet to make its mark on the landscape. However, the team remains committed to delivering yet another remarkable endeavor.

Fortress Credit Corporation, a division of Fortress Investment Group, initially granted a loan of $49 million in 2021 for the first phase of La Baia. However, demonstrating their confidence and support, the New York-based lender recently increased the principal amount to $90.1 million by providing an additional $41.1 million in financing, contributing to the continued success of this extraordinary development.

La Baia North Embraces the Future

La Baia North, a visionary development led by renowned magnate Ian Bruce Eichner, is poised to redefine luxury living in Miami Beach. Acquiring the 1-acre site for a staggering $17.5 million in 2021, Continuum is laying the groundwork for a revolutionary project that is already gaining significant traction. With half of the units pre-sold, it's clear that discerning buyers are eager to be a part of this transformative experience.

Backing this extraordinary endeavor is Miami Beach-based debt fund, Benmark Capital. Investing a whopping $13 million into La Baia North, they are demonstrating their unwavering confidence in the project's potential. Scheduled to commence construction in the coming year, the development is slated for completion in 2027, offering an unparalleled level of sophistication and style.

La Baia North will be a testament to architectural innovation, embracing cutting-edge design elements while harmoniously blending with the natural beauty of its surroundings. Every detail has been meticulously considered, ensuring the seamless integration of luxury and comfort. Residents will have exclusive access to an array of amenities, indulging in a lifestyle that is truly second to none.

Continuum's Vision for South Florida

Continuum's commitment to transforming South Florida's skyline is evident in their impressive portfolio of developments. Among them is a remarkable 31-story condominium tower in the scenic North Bay Village. Featuring modern architecture and luxurious amenities, this development stands as a testament to Continuum's unwavering dedication to creating exceptional living spaces.

In 2002, Continuum made a significant mark on Miami Beach's South-of-Fifth neighborhood with the completion of their iconic 42-story oceanfront condominium building. Rising majestically on the sandy shores, it has become an enduring symbol of sophistication and exclusivity.

From North Bay Village to South-of-Fifth, Continuum's visionary projects have left an indelible mark on South Florida's real estate landscape. With each development, they continue to redefine luxury living, pushing boundaries and raising standards. As they forge ahead, it is clear that Continuum is not just building properties; they are building a legacy.