Ugo Colombo Of CMC Group And Nadim Ashi Of Fort Partners Secure $323.8M Loan For Development Site In Miami

The asset involved is a development site located at 2699 Bay South Bayshore Drive in the Miami market. CMC Group and Fort Partners have secured a construction loan amounting to $323,800,000 to develop the Four Seasons Private Residences Coconut Grove. The project is defined by a 20-story waterfront tower that will feature 70 luxury homes with high-end Italian finishes and resort-style amenities. Construction is expected to be completed by mid-2028, reflecting strong pre-sales demand.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $323,800,000
• Lender: Greg Newman - Bank OZK
• Landlord: Ugo Colombo - CMC Group
• Co-Landlord: Nadim Ashi - Fort Partners
• Loan Type: Construction

In this transaction, Greg Newman represents Bank OZK as the lender, while Ugo Colombo represents CMC Group and Nadim Ashi represents Fort Partners as the landlords involved in the deal. This marks the Four Seasons brand’s first standalone residential project in Florida, indicating a significant development in South Florida’s luxury market.