Cipres, Rilea Group Obtain $90M Construction Loan for Miami Residences
Ciprés and the Rilea Group secured $90 million in construction financing for The Rider Residences, a luxury boutique condominium now under construction at the crossroads of Miami’s Wynwood, Midtown, Edgewater, and Design District neighborhoods. The loan, provided by Mexico-based Banco Inbursa, will fund the ongoing development of the 12-story project, which will encompass 146 turn-key residences, 11,000 square feet of retail and amenities. The financing was arranged by Javier Herrera of Franklin Street.
Delivery is slated for 2027. The Rider is accepting wallet-to-wallet cryptocurrency transactions.
The Rider offers fully furnished studios, 1-, 2-, and 3-bedroom residences and penthouse units, with select floorplans featuring dens and half baths, ranging between 386 and 1,612 square feet in size.
The building will house a rooftop resort-style pool, a high-end restaurant and speakeasy bar and a fitness center. The Rider will provide a fleet of in-house Harley Davidson motorcycles, Vespas, and electric bicycles for rent, along with 24-hour valet service, EV charging stations, and a private parking garage.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout