(To read more on the multifamily market and the debt and equity markets, click here.)

MIAMI-Developers have secured a $280-million construction loan for Epic Residences and Hotel, a 55-story condominium and hotel project at 300 Biscayne Way. Construction began in July on the project, which is a joint venture between affiliates of Ugo Columbo, Lionstone Development and Ponte Gadea Group.

The loan, which was provided by Banco Santander Central Hispano SA and Mellon United National Bank, closed Nov. 10. Locally based Bilzin Sumberg attorneys Jim Shindell, Suzanne Amaducci, Robert Siegel and Lori Schumacher represented the developers in the negotiation and structuring of the loan. Israel Alfonso, of Baker & McKenzie LLP, represented Ponte Gadea. A White & Case LLP team led by John Murphy represented the lenders.

“This project had several suitors. The lender was chosen because of the close relationship it has with Ponte Gadea,” Shindell tells GlobeSt.com.

The architect on the project is Luis Revuelta, of Revuelta Vega Leon. The project will contain both condominiums and hotel rooms. The hotel will occupy 15 of the floors and contain 414 rooms. It will be managed by San Francisco-based Kimpton Hotels & Restaurants.

There will also be 342 one-, two- and three-bedroom condominiums ranging in size from 1,040 sf to 7,840 sf. The units are priced from the $500,000s. The project will contain a rooftop upper penthouse with entertainment rooms and a private terrace atop the tower. “There wasn’t any difficulty obtaining the loan,” Shindell says. “There was a presales requirement for the construction loan but it was lighter than other condominium projects due to the hotel component.”

Among building amenities are a 12,000-sf spa and fitness center, restaurants and lounges overlooking the Miami River and Biscayne Bay, a private boat dock, business center and two pools. Residents of the condominiums will be able to purchase amenities on an a la carte basis.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.