CMC Group and Fort Partners have successfully secured a substantial $323.8 million construction loan from Bank OZK for their highly anticipated Four Seasons Private Residences Coconut Grove. This marks a significant milestone for the luxury development, which is poised to be the Four Seasons brand’s inaugural standalone residential project in Florida. The financing underscores strong market confidence and robust sales momentum for the exclusive waterfront property.
Key Takeaways
- Significant Funding Secured: A $323.8 million construction loan has been finalized with Bank OZK.
- Project Milestone: This financing is crucial for the development of the Four Seasons Private Residences Coconut Grove.
- Market Confidence: The loan’s competitive terms reflect strong investor belief in the project and the developers.
- Project Progress: Construction is underway, with an expected completion in mid-2028.
- Luxury Offering: The development will feature 70 exclusive residences with high-end finishes and amenities.
A Landmark Development
CMC Group and Fort Partners have finalized a significant $323.8 million construction loan from Bank OZK, a prominent national lender. This funding is designated for the Four Seasons Private Residences Coconut Grove, a luxury development that will introduce the Four Seasons brand’s first standalone residential offering in Florida. The financing attracted considerable interest, with terms that exceeded those of recent luxury residential transactions in the area, highlighting the strength of the Four Seasons brand and the project’s promising sales trajectory.
Construction and Timeline
Following its groundbreaking in October, construction on the 20-story waterfront tower is progressing as planned. The development is on schedule to welcome residents by mid-2028. The project continues to experience strong market demand for its 70 luxury homes, with sales being managed in-house by CMC Real Estate and Fort Realty.
Developer Vision
Ugo Colombo, Founder of CMC Group, expressed his satisfaction with the financing process, noting the exceptional level of interest from over 10 lenders. He stated, "That response underscores the strength of — and market confidence in — the development team, the Four Seasons brand, an exciting Coconut Grove location and a long-term vision centered on timeless architecture, refined design and world-class service." Nadim Ashi, CEO of Fort Partners, added, "This financing marks a pivotal moment for Four Seasons Private Residences Coconut Grove. It affirms our long-term vision for a thoughtful, enduring property that will contribute meaningfully to the neighborhood and to the Four Seasons legacy."
Design and Amenities
The Four Seasons Private Residences Coconut Grove is designed by Miami-based architect Luis Revuelta, with interiors curated by Florentine designer Michele Bönan. The residences will feature expansive living spaces with ceiling heights ranging from 10 feet 4 inches to 11 feet 6 inches, floor-to-ceiling windows, custom Italian kitchens by Molteni and Michele Bönan Interiors, and luxurious bathrooms with Italian cabinetry and marble finishes. Each home will have a private elevator foyer.
Residents will benefit from resort-style amenities, including a restaurant, library, children’s area, private event room, and an expansive pool deck and bar lounge, all serviced by Four Seasons. The wellness program includes a state-of-the-art fitness center, yoga and massage rooms, and an extensive spa featuring a cold plunge, hydromassage pool, infrared sauna, and more. Residents will also experience world-class Four Seasons service, including a dedicated Director of Residences, Lifestyle Manager, housekeeping, butler services, and in-residence dining.
Lender Confidence
Greg Newman, Senior Managing Director of Originations at Bank OZK, commented on the partnership: "We appreciate the opportunity to once again partner with top-tier sponsors like CMC Group and Fort Partners on this exceptional development. This financing demonstrates our confidence in the sponsors’ ability to execute on their vision and the strength of the South Florida market." Hannah Lidicker of Bilzin Sumberg, who represented the development team, added, "The financing for Four Seasons Private Residences Coconut Grove reflects sustained lender confidence in South Florida’s luxury residential market, particularly in desirable neighborhoods such as Coconut Grove."