Bravo Property Trust Provides $170M Construction Loan for Miami Condo Tower

A development entity affiliated with Adam Westreich’s Hazelton Capital Group and SB Development has secured $170 million in construction financing to build a 40-story, ultra-luxury condominium tower in Downtown Miami, Commercial Observer can first report.  

Bravo Property Trust, an affiliate of Bravo Capital, the private CRE lending firm formed by Gabi Moshayev and Aaron Krawitz, provided construction debt that will support the acquisition of the land and initial development of the property. 

Lillian Fried of Vault Real Estate Group arranged the financing. 

“Waterfont Miami development sites of this caliber are rare, and we are equally as impressed with the sponsorship’s experience and vision,” said Bravo’s Krawitz in a statement. 

The luxury condo building, to be named Cove, will be located at 496 North East 29th street in the city’s Edgewater neighborhood, and a planned baywalk will give residents access to more than eight acres of waterfront greenspace along Biscayne Bay. 

The building will include134 luxury condo units and amenities such as a resort-style pool deck, a screening room and coworking spaces with private office suites. 

Moshayev, the chairman and co-founder of Bravo Property Trust, noted in prepared remarks that the development combines top-quality sponsorship with an attractive location that offers access to the Midtown and Wynwood neighborhoods, Downtown Miami and Miami International Airport.

“[It’s a] structure that offers institutional-quality opportunities for our partners while reinforcing Bravo’s commitment to premier U.S. markets,” he added. 

Brian Pascus can be reached at bpascus@commercialobserver.com.