The Empira Group, a Swiss investment firm, has secured $81 million in construction loan financing for the realisation of a 160-unit multi-family residential project in Coral Gables, Florida. Pearlmark is acting as the financing partner for the project named Aurelian, a twelve-storey residential building on a 1.2-acre plot at 114 Calabria Avenue.
Charles Crapse and Denny St. Romain of CBRE arranged the financing for the Empira Group. News of the financing was first reported by The Business Journals. Construction on the development, which recently commenced, is expected to be completed in 2028.
Project Details and Amenities
The Empira Group acquired the plot in 2025 for $18 million. The planned building, designed by Behar Font & Partners of Coral Gables, will offer extensive amenities alongside the 160 residential units, providing residents with modern comfort and conveniences. Furthermore, Empira plans to integrate a 6,000 square foot public park on the western part of the property.
- —248 parking spaces
- —A swimming pool
- —A fitness centre and a yoga studio
- —Coworking areas and an entertainment lounge
- —A pet grooming station
Growing Commitment in Miami
This current financing follows an earlier transaction approximately 18 months ago, in which the Empira Group secured $111.3 million for the construction of an apartment tower in Miami's Brickell Financial District. This underscores the investment firm's continued commitment to the real estate market in the Miami metropolitan area.
