Roger Development Group Secures $25 Million Loan For Avenue Hotel & Residences In Coral Gables

Roger Development Group, led by Oscar Roger Sr., has secured a $25 million construction loan for the development of the Avenue Hotel & Residences in Coral Gables. This development site will feature 48 condos with prices ranging from $730,000 to $1.3 million. The project also includes retail spaces, which have already been sold out, hosting a French bakery, luxury handbag store, and a spa. The completion target for the Avenue Hotel & Residences is set for Q1 2025.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $25,000,000
• Address: 351 San Lorenzo Avenue
• Market: Coral Gables
• Landlord: Roger Development Group - Oscar Roger Sr.
• Loan Type: Construction Loan

The Avenue Hotel & Residences project is backed by the expertise and leadership of Oscar Roger Sr. and his company, Roger Development Group. With their vision and funding secured through the construction loan, the project is set to bring a luxurious living experience to Coral Gables. The development's prime location and high-end amenities are expected to attract discerning buyers seeking upscale condominium living in the heart of the city.