Billionaire Mike Fernandez buys penthouse at Park Grove

Fernandez also owns a large waterfront estate in Coral Gables

Mike Fernandez and Two Park Grove (Credit: Wikipedia and Curbed)
Mike Fernandez and Two Park Grove (Credit: Wikipedia and Curbed)

Billionaire Mike Fernandez paid more than $6.4 million for a penthouse at Park Grove, a three-tower complex being developed by the Related Group and Terra.

Fernandez, a Coral Gables businessman who made his money in the health care industry, bought upper penthouse 1 at Two Park Grove at 2821 South Bayshore Drive in Coconut Grove.

The 23-story, 67-unit building is the second tower of the 297-unit development. It was completed in June.

Fernandez already owns a sprawling waterfront estate at 1 Arvida Parkway in the Gables Estates community of Coral Gables. His private equity firm, MBF Healthcare Group, is also based in the Gables.

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Other unit owners at the Park Grove project include Brahman Capital Management founder and principal Peter Hochfelder and Ryder System executive Eugenio Sevilla-Sacasa.

The complex will feature a restaurant by Miami restaurateur and chef Michael Schwartz, a gym, spa, sauna and steam rooms and a wine tasting room. It was designed by Rem Koolhaas’ OMA and Arquitectonica with interiors by Meyer Davis Studio.

Terra and Related scored $112.1 million in construction financing for One Park Grove, the third and final tower of the project that includes Two Park Grove and the Club Residences.