
Alta Closes $20.3M Construction Loan for Bay Harbor Islands Luxury Condos
LV Lending has announced the closing of a $20.3 million construction loan for Alta Developers’ Alana Condominium.
Alana is a collection of 30 residences in Bay Harbor Islands featuring a modern design by architect Luis Revuelta. Two- and three- bedroom units will range from 1,229 to 1,662 square feet, with oversized terraces up to 865 square feet.
Bay Harbor Islands is a pair of islands floating in the middle of Biscayne Bay between the Intracoastal waterway, Bal Harbour and Atlantic Ocean beaches.
Fortune Development Sales, led by Edgardo Defortuna, is the exclusive sales agent. Brian Gaswirth and Paul Adams of JLL Capital Markets represented the development 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.
- ◦Development