The developers behind Glasshaus in the Grove secured a $13.2 million construction loan to finish building the boutique luxury condo project.
The loan was provided by Boynton Beach-based Trez Forman Capital. It was arranged by David Larson of NKF Capital Markets.
Javier Lluch and Daniel Ribeiro are developing the five-story, 23-unit condo building at 3161 Center Street that is expected to be completed by the beginning of 2020, according to Larson.
Ribeiro is the chairman of G.D8, a Brazilian development and construction firm headquartered in São Paulo. Lluch is the chairman of Miami-based Element Development.
The condo development, known for its minimalist European design, was designed by Coral Gables-based architecture firm Varabyeu Partners.
Units will range from one to three bedrooms with residences ranging from 1,080 square feet to 2,953 total square feet, including balconies and terraces. The amenities also include a zen garden, below ground parking and a rooftop pool. Units start at just under $600,000.
Trez Forman is also the lender for another condo project in Coconut Grove, Arbor Coconut Grove. The lender provided a $21 million loan in March for the 48-unit building that will be located behind CocoWalk.