Developer Duo Closes on $67.5M Financing for Coral Gables Condos
Constellation Group and The Boschetti Group closed on a $67.5 million construction loan for Cora Merrick Park, a boutique residential condominium in Coral Gables. Located at 4241 Aurora Street, Cora will deliver 74 residences.
Lender BHI provided the financing, which was arranged by a Berkadia Miami team led by Scott Wadler and Matt Nihan.
Construction on Cora Merrick Park began in April and is expected to be completed in 2028.
Cora Merrick Park is designed by Arquitectonica. With an emphasis on wellness, Cora Merrick Park features advanced air and water purification systems, noise-reducing acoustic design, non-toxic building and cleaning materials, a fitness center with a dedicated recovery zone, and a spa with infrared sauna, steam room, contrast hydrotherapy pools and red-light therapy panels.
Residents will also enjoy a rooftop pool deck, yoga and meditation area, lobby tearoom and the first rooftop padel court in Coral Gables.
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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