New Zora Living offering redefines standard for luxury rental home projects

Calmwater Capital has provided Alhambra, CA-based GE Development, Inc. with a $32.25 million construction loan for the completion of The One, an 81-unit multifamily development over 13,000 square feet of street-level retail in the Southern California community of San Gabriel.

Concord Summit Capital, LLC (“Concord Summit”) arranged $26.8 million of total construction financing for Del Prado Place, a mixed-use condominium development in Dana Point, Calif., a coastal community located in Orange County, about halfway between Los Angeles and San Diego.  Concord Summit sourced a $17 million Senior Construction loan and $9.8 million in CPACE financing.

Del Prado Place will offer 18 spacious one- and two-bedroom condominiums with expansive outdoor terraces, Pacific Ocean views, as well as 5,200 square feet of ground-floor retail.  Unit prices start at $1.75 million.  The project is prominently located within the Lantern District of Dana Point and a half mile from the $500 million revitalized Dana Point Harbor.



The developer, Newport Beach-based Westerre, is a privately-owned real estate development, strategic planning, and acquisition/disposition advisory company focused on mixed-use and residential development opportunities in California and throughout the United States.



Concord Summit Capital Director Tyler Beauregard sourced the financing on behalf of the developer. 



“This is our second CPACE / Senior Construction loan execution with Westerre. While this dual-loan execution can be very challenging and complex, incorporating CPACE into the capital stack allowed us to provide our sponsor with the lowest possible cost of capital along with significantly higher proceeds than a traditional stretch senior construction loan. Having completed several transactions with this quality CPACE-friendly construction lender, it allowed us to structure a very attractive financing package on behalf of our borrower,” Beauregard said.



Construction of Del Prado Place will begin in mid-January and completion is expected in the second quarter of 2025.

MG Developer, a leading real estate development firm, has successfully closed a $10 million loan for the acquisition of prime land in Coral Gables. This strategic move is a testament to the visionary work of MG Developer which marks a significant milestone, as it sets the stage for the development of 13 more exclusive ultra-luxury townhomes. Named after George Merrick, “The George” will truly be a work of art and will become the crown jewel of the master-planned “Biltmore Square” community. Designed by De La Guardia, whose award-winning designs have received recognition throughout the world, including for MG Developer’s renowned Beatrice Row, also located in the Biltmore Square enclave in 2021.

The Altman Companies, a nationally recognized developer, builder, and manager of exceptional rental apartment communities, is thrilled to announce the grand opening of Altís Blue Lake, a luxurious 318-unit apartment community nestled in the heart of Lake Worth, Florida. The community is now open for residents to move in, bringing a new level of luxury living to this vibrant area. 

The Altman Companies, a nationally recognized developer, builder, and manager of exceptional rental apartment communities, is thrilled to announce the grand opening of Altís Blue Lake, a luxurious 318-unit apartment community nestled in the heart of Lake Worth, Florida. The community is now open for residents to move in, bringing a new level of luxury living to this vibrant area. 

The office, with retail component including a rooftop venue, will bring sophisticated work/play experiences to Coral Gables’ Merrick Park district; groundbreaking is scheduled for Q4 2023 with completion in 2025 

ANF Group, Inc., a full-service construction firm providing construction management, general contracting, development, and design-build services to the South Florida market, commemorated the topping out of the first phase of Southpointe Vista, a new two-phase affordable housing development.  Developed by McDowell Housing Partners, the project is set to introduce a total of 332 new units to Miami-Dade County’s Goulds community.