The Real Deal Miami

Forum Aventura office condo project closes $20M loan

Office condos start at $300,000, project is 75 percent sold
December 14, 2016 03:45PM

Rendering of Forum Aventura

The developers of Forum Aventura have closed on a $20 million construction loan. 

CK Prive Group, a partnership between Prive Land Banking and CK Holding Group, secured the financing from Stonegate Bank, Marquis Bank and Banco do Brasil S.A., according to a press release. Aztec Group’s senior managing director Howard Taft, Charles Penan, director, and Jason Katz, vice president, arranged the financing.

The 12-story, 96,118-square-foot building at 19790 West Dixie Highway broke ground in September, records show. Arquitectonica designed the office condominium project, which is about 75 percent sold. Amenities will include 14-foot ceilings, a lobby, rooftop lounge, attached parking garage, outdoor green space and ground floor retail space.

Commercial units range from 550 square feet to 1,300 square feet for a single office, though there’s an option to combine units up to 8,500 square feet. Prices start at $300,000 per unit. The building is technically in Ojus, an unincorporated neighborhood just west of Aventura.

CK Prive bought the 37,684-square-foot development site early last year for $2.38 million.

Forum Aventura is one of three office condominiums CK Prive is developing, the other two being Aventura Square and Beacon Tower. The developer also just launched plans for Uptown 163, a mixed-use project planned for the northeast corner of Northeast 163rd Street and Biscayne Boulevard in North Miami Beach. That development calls for 160 hotel rooms, 198 apartments, 130,000 square feet of leasable office space, 200,0000 square feet of retail space and about 1,400 parking spaces. – Katherine Kallergis