Ugo Colombo’s CMC Group has obtained a $74 million refinancing for the Coral Gables site of the company’s luxury auto dealership The Collection, The Real Deal has learned.
CMC’s The Collection Properties and The Collection received the loan from New York-based Allianz Life Insurance Company of North America on Tuesday, according to Miami-Dade County records. The transaction includes a $17.5 million future advance for the 4000 Ponce de Leon Boulevard property. The mixed-use building was constructed in 2001. [more]