Empira Group Secures $81 Million Construction Loan From Pearlmark For Development In Coral Gables

The Aurelian is a 160-unit apartment development located at 114 Calabria Avenue in Coral Gables, Florida, encompassing a total of 1.21 acres. It is set to feature 248 parking spaces, resident amenities, and a 6,000-square-foot public park. The project is currently under construction and is expected to be completed in 2028.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $81,000,000
• Lender: Pearlmark
• Landlord: Rafael Aregger, Branko Kuzmanović & Michael Marrero - Empira Group
• Broker Representatives: Charles Crapse & Denny St. Germain - CBRE
• Loan Type: Construction

Empira Group secured an $81 million construction loan from Pearlmark to finance The Aurelian project. CBRE, represented by Charles Crapse and Denny St. Germain, arranged the financing for this 12-story development.