The Real Deal

Constellation, Boschetti land $33M construction loan for Coral Gables mixed-use project

By Francisco Alvarado

JV plans eight-story building with 70K sf of office, 6K sf of ground-floor retail, and 7K sf rooftop restaurant

Constellation Group and the Boschetti Group snagged a $33 million construction loan for a mixed-use project in Coral Gables.

Miami-based Banesco USA and Spain-based Abanca provided the financing for the joint venture’s planned development at 4225 and 4311 Ponce de Leon Boulevard, according to a press release. Miami-based Constellation and SouthMiami-based Boschetti are planning an eight-story building with 70,000 square feet of office space, 5,900 square feet of retail on the ground floor, and 7,000 square feet for a rooftop food and beverage venue.

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