Multiplan Real Estate Asset Management landed a $30 million construction loan for its planned oceanfront condos in Surfside.
Records show Coral Gables-based Bradesco Bank is supplying the financing for Multiplan’s 12-story, 25-unit Ocean House project. The loan allows for borrowing up to $60 million, property records show. Multiplan, led by Brazilian billionaire José Isaac Peres, launched sales for the condos planned for 9317 Collins Avenue in August, with prices starting at $5.1 million.
Marcelo Kingston, managing partner of Multiplan, told The Real Deal the project’s penthouse would be priced between $50 million and $60 million. The firm’s anticipated sellout for Ocean House is more than $300 million. Phil Gutman is leading sales for the project.
Bernardo Fort-Brescia’s Arquitectonica is designing Ocean House. Units will range from two- to five-bedrooms with 2,100 square feet to 6,300 square feet. Amenities will include a rooftop pool, spa facilities and a fitness center. Construction is expected to be completed in 2028, the project’s website shows.
Multiplan’s completed South Florida projects include 57 Ocean, Ocean Park and Il Villaggio, all condos in Miami Beach. Last month, Peres completed a 1.4-acre condo development site assemblage in Coral Gables, spending a total of $31.8 million.
Peres bought the 0.9-acre site for Ocean House last year from Vivian Dimond in a $64 million deal. The site was the former home of Regent Palace, a two-building condo complex deemed unsafe and evacuated in 2021 in the aftermath of the deadly Champlain Towers collapse. Developers swooped in to buy out owners of aging buildings like Regent Palace.
In January, Dubai-based developer Damac Properties launched sales for the Delmore, its 12-story, 37-unit oceanfront luxury condo project planned for the Champlain Towers site at 8777 Collins Avenue. Unit prices start at $15 million.