Pearlmark Provides $81M for Apartment Project in Coral Gables
Empira Group recently broke ground on the 160-unit development in Miami-Dade County
By Greg Cornfield October 16, 2026 4:25 pm
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Swiss investment firm Empira Group has secured an $81 million construction loan to build a 160-unit multifamily development in Coral Gables, Fla.
Pearlmark provided the financing for Aurelian, a 12-story multifamily project on a 1.2-acre site at 114 Calabria Avenue. CBRE’s Charles Crapse and Denny St. Romain arranged the financing for Empira Group. The Business Journals first reported the financing.
Empira acquired the property for $18 million in 2025, and recently broke ground on the development, which will include 248 parking spaces, a swimming pool, a fitness center, a yoga studio, coworking space, an entertainment lounge and a pet grooming station.
Coral Gables-based Behar Font & Partners designed the building, which is expected to be completed in 2028. Empira also plans to add a 6,000-square-foot public park on the western portion of the property.
The financing comes about 18 months after Empira secured $111.3 million to build an apartment tower in Miami’s Brickell Financial District.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
