Development Group Inks $58M Construction Loan for Coconut Grove Condos
A development team closed on a $58 million construction loan to build The Lincoln, a luxury boutique condominium with 48 residences in Coconut Grove, Florida. The project has begun construction and is scheduled for completion by Q3 2028.
Berkadia’s Scott Wadler, Bobby Dockerty, Mitch Sinberg, Matt Robbins and Brad Williamson secured the financing on behalf of the development team: LORE Development Group (a joint venture formed by Leste Group and Opportunity Fundo de Investimento Imobiliário) and Element Development.
SME Capital provided the 30-month construction loan, which includes two six-month extension options.
Located at 2650 Lincoln Avenue in Coconut Grove, The Lincoln features a collection of one- to four-bedroom residences, with private balconies. Building amenities at The Lincoln include a 40-foot-long heated rooftop pool, fitness center, golf simulator, co-working lounge and media area.
The Lincoln was designed by Paredes Architects. Winmar Construction is the general contractor for the project, which is scheduled to be completed by Q3 2028.
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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
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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