LORE, Element Land $58M for Coconut Grove Condo Development
The project is scheduled for completion in late 2028.
A rendering of The Lincoln. The community will include six penthouses with private balconies and a mix of indoor and outdoor amenities. All renderings courtesy of The Lincoln 
Amenities will be located at the project’s rooftop level and will comprise outdoor dining spots, private cabanas and a lounge with garden spaces, among others. 
The Lincoln will have a heated swimming pool and an observation deck overlooking Biscayne Bay.
LORE Development Group and Element Development have obtained a $58 million construction loan for The Lincoln, a 48-unit luxury condominium project taking shape in Miami’s Coconut Grove neighborhood.
SME Capital originated the 30-month senior note, which has two six-month extension options. Berkadia facilitated the transaction.
The development team includes Paredes Architects as architect of record, Design Philosophy as interior designer and Cité Arquitetura, which was in charge of the façade. One Sotheby’s International Realty is leading sales and marketing efforts. Winmar Construction is the general contractor in charge of The Lincoln, set to reach completion by the third quarter of 2028.
Leste Group and Brazil-based Opportunity Fundo de Investimento Imobiliário formed LORE Development Group in 2023. At the time of its founding, the new company set plans to pursue up to $1 billion in multifamily and condominium development opportunities across South Florida over five years.
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Construction commenced in August on The Lincoln, which is more than 40 percent sold. The project is being built at 2650 Lincoln Ave. The area has multiple dining and shopping options, as well as multiple waterfront landmarks, including the Dinner Key Marina. Downtown Miami and its international airport are both within 6 miles of the property.
The unit mix includes one- to four-bedroom floorplans ranging in sizes from 1,353 to 3,073 square feet. Residences will include up to 11-foot ceilings, porcelain flooring, office spaces, walk-in closets, large balconies with glass railings, designer kitchens, Miele appliances and bathrooms with floor-to-ceiling glass showers. The Lincoln will also have six penthouses of sizes up to 3,633 square feet with in-suite dens and private balconies.
Amenities at the condominium project will be at the rooftop level and will comprise a 40-foot heated swimming pool, private cabanas, a lounge with garden spaces, a yoga and meditation area, summer kitchens with outdoor grills and dining spots and an observation deck. Other amenities will include a fitness center, a wellness center, a resident lounge with coworking spots, a golf simulator and media room, as well as a grooming station and a dog park.
Berkadia’s Vice President Bobby Dockerty, Senior Managing Directors Mitch Sinber and Brad Williamson, together with Managing Director Scott Wadler, represented the joint venture.
Miami condominium pipeline attracts lender interest
The Miami luxury condo market continues its strong construction pace well into 2026, while lender activity also follows for new projects as well as developments currently underway. In February, CMC Group and Fort Partners obtained a $323.8 million construction loan for the development of Four Seasons Private Residences, another condo project underway in Coconut Grove. The 70-unit property is underway since 2025 and is expected to welcome its first residents by mid-2028.
More recently, Shoma Group secured $172.5 million in C-PACE construction financing for a 333-unit mixed-use condominium project in North Bay Village, Fla. The deal places the project, called Shoma Bay, among Florida’s five largest C-PACE-financed projects.
Elsewhere in the metro, Developer Giuseppe Iadisernia received a $50 million mezzanine loan for a 250-unit condo project in Hallandale Beach, Fla. The mortgage will finance East Tower, one of the two 25-story towers within Oasis Hallandale, a larger development with retail, dining and office space across five buildings.
