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Commercial Property

Empira Group Secures $81 Million Construction Loan for Coral Gables Multifamily

Swiss investment firm Empira Group secured $81 million in construction financing from Pearlmark to build a 160-unit multifamily development in Coral Gables, Florida.

FTMQ Real Estate, written by our newsroom0 views

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Picture: Commercial Observer

Swiss investment firm Empira Group has secured an $81 million construction loan to develop a 160-unit multifamily project in Coral Gables, Florida, Commercial Observer and Florida YIMBY reported. Pearlmark provided the debt financing for the development, named Aurelian. The Business Journals first reported news of the construction loan. [1][2][3]

The project will rise 12 stories on a 1.2-acre site located at 114 Calabria Avenue, Commercial Observer reported. Charles Crapse and Denny St. Romain of CBRE arranged the construction financing for Empira Group. [1]

Empira Group originally acquired the 1.2-acre property for $18 million in 2025 and recently broke ground on the construction site, according to Commercial Observer. Coral Gables is located in Miami-Dade County, seven miles southwest of downtown Miami. [1][5]

The transaction follows other major commercial property deals in the immediate area. As FTMQ Real Estate reported earlier, City National Bank of Florida sold its former office building in Coral Gables to Baptist Health South Florida for $39 million after moving across the street. [6]

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In short

  • Pearlmark provided an $81 million construction loan to Empira Group.
  • The Aurelian project will feature 160 multifamily units across 12 stories in Coral Gables.
  • Empira Group purchased the 1.2-acre development site at 114 Calabria Avenue for $18 million in 2025.
  • CBRE brokers Charles Crapse and Denny St. Romain arranged the financing.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]Pearlmark Provides $81M for Apartment Project in Coral GablesCommercial Observer, 18d ago (the report this story comes from)
  2. [2]Empira Group Secures $81 Million Construction Loan For The Aurelian In Coral GablesFlorida YIMBY, 16d ago
  3. [3]Developer obtains $81M construction loan for Coral Gables apartmentsThe Business Journals, 18d ago

Background

  1. [4]RUAP on Wikipedia
  2. [5]Coral Gables, Florida on Wikipedia
  3. [6]City National Bank of Florida Sells Coral Gables Office Building for $39 Million FTMQ Real Estate, 26d ago

Our newsroom writes these reports with the help of software, from the 6 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

Related from FTMQ Real Estate

Earlier reports of ours on the same people and subjects.

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