LV Lending, a leading private lender specializing in bridge loans for commercial and residential investment properties and developments, today announced the successful closing of a $20.3 million construction loan for Alta Developers’ Alana Condominium, an exclusive boutique collection of 30 residences located in Bay Harbor Islands.
Alana features a minimalistic, modern exterior design by none other than the well renowned architect, Luis Revuelta. Residents will enjoy elevated island living with expansive residences of two and three- bedroom floorplans ranging in size from 1,229 to 1,662 sq. ft. and oversized terraces of up to 865 sq. ft.
Fortune Development Sales, led by Edgardo Defortuna, is the exclusive sales and marketing agent. Brian Gaswirth and Paul Adams of JLL Capital Markets represented the Alta Developers team in placing the financing.
“Construction started back in May 2023. The building’s exclusivity and curvilinear glass façade will be an elegant addition to the Bay Harbor Island landscape and neighborhood,” according to Raimundo Onetto, principal and CEO of Alta Developers.
Residents will enjoy 360-degree views of the bay and lush landscape of the islands and Bal Harbour that will capture the essence of island living. The rooftop oasis will feature a resort-style pool with outdoor meditation, yoga and fitness, a summer kitchen and barbecue area, and plenty of lounge seating. The project is in close proximity to beaches, Bal Harbour shops, with city skyline views, a quiet island mood, designer interiors and impeccable amenities, all in a home that celebrates the indoor-outdoor lifestyle for which the area is famous.
Alana is located in the small, yet prestigious neighborhood of Bay Harbor Islands, a pair of islands floating in the middle of Biscayne Bay right between the Intracoastal waterway, Bal Harbour and Atlantic Ocean beaches. Alana is just a brisk walk or bike ride to white-sand beaches, the world- famous Bal Harbour Shops, Haulover Inlet and Marina, and numerous local bistros and shops.
Edgardo Defortuna, president and CEO of Fortune Development Sales, commented, “The Bay Harbor Islands location is really unique, and the boutique character of Alana makes this project one of the greatest values in the South Florida real estate market today.”
The project has an estimated completion date of Q4 of 2024. Prices for these exclusive residences start at $1,270,000.
“The closing of this $20.3 million construction loan demonstrates our continued dedication to supporting trusted and reliable real estate developers that will positively enhance communities,” said Camilo Niño, principal at LV Lending. “We congratulate Raimundo Onetto and his team at Alta Developers on this milestone and look forward to seeing this spectacular project come to fruition.”
Alta Developers is also developing Casa Bella by B&B Italia with The Related Group at 1444 Biscayne Blvd.
The Alana sales gallery is located at 1050 Kane Concourse, Bay Harbor Islands, FL 33154. Contact the sales team at 305-715-7117, via email at [email protected] or visit www.alanabayharborislands.com. For more information on LV Lending’s services, call (305) 523-6576, email [email protected], or visit www.lvlending.com.