Constellation and Boschetti Land $68M to Build Boutique Condo in Coral Gables
BHI provided the funding for the 74-unit Florida project that broke ground in April
By Julia Echikson June 9, 2026 12:35 pm
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Constellation Group and The Boschetti Group nabbed a $67.5 million construction loan from BHI for a boutique condo development in Coral Gables, Fla., the joint venture announced.
Called Cora Merrick Park, the project will include 74 units at 4241 Aurora Street, six miles southwest of Downtown Miami. The project is just north of the open-air Shops at Merrick Park mall, which is home to Louis Vuitton and J. Crew stores.
Construction began in April and is expected to be completed in 2028. Berkadia’s Scott Wadler and Matt Nihan brokered the debt from the U.S. division of Israel’s Bank Hapoalim.
Amenities will include rooftop pool deck and padel courts, with Spanish firm Lamarca Well overseeing the wellness programming. Condo prices range from $900,000 to over $4 million. Douglas Elliman brokers are leading sales and marketing. (A representative for the developers did not immediately disclose sales figures.)
Constellation Group purchased the 0.6-acre site for $6.1 million in 2022, according to property records.
It’s the second Coral Gables project between Constellation Group and The Boschetti Group, which this past year completed a boutique office building, where UBS signed a 33,180-square-foot lease.
Cora Merrick Park’s financing comes less than a week after another 74-unit condo project a block away in Coral Gables secured construction debt. Benmark Capital provided $100 million for MG Developer and Vertical Developments’s Alhambra Parc.
Julia Echikson can be reached at jechikson@commercialobserver.com.
