The Related Group and Alta Developers have closed on $240 million in financing for the Casa Bella Residences by B&B Italia, a 56-story condo tower that recently broke ground in downtown Miami’s Arts and Cultural District.
The loan was provided by Cain International, a privately held investment firm with over $16 billion in assets under management. Newmark arranged the transaction with a debt and structured finance team led by co-presidents Jordan Roeschlaub and Dustin Stolly.
Construction of the tower is scheduled to wrap up in 2026. Over 80% of Casa Bella’s 319 residences are now in contract, and Fortune International Realty is the building’s exclusive sales and marketing agent with a sales team led by Olga Monson.
Earlier this year, Casa Bella set a price record with a contract for a 5,893-square-foot triplex penthouse, which sold for $12.6 million, or $2,138 per square foot. That represented the neighborhood’s most expensive condominium sale on a price-per-square-foot basis, according to backers.
Located at 1400 Biscayne Blvd., the residences at Casa Bella range from one to four bedrooms and feature high ceilings, private elevator access, Sub-Zero and Wolf appliances and European fixtures picked by B&B Italia. The project is the first residential partnership for the Italian design house. Casa Bella will also offer 10 penthouses with seven floor plans, including two 54th-floor triplexes and two duplexes on the same floor.
The tower will offer two full floors of amenities overlooking Biscayne Bay, including an event venue, wine vault and private tasting lounge, private theater and co-working spaces. A fitness center will have dedicated yoga and spin rooms, while a spa will provide on-demand services like massages, facials, blowouts and manicures and pedicures.
There is also a pool deck with gardens designed by landscape architect Enzo Enea and an 80-foot lap pool surrounded by private cabanas, shaded lounge areas, an open-air lawn and a poolside bar and Mediterranean café. A rooftop pool and terrace are located on the 56th floor.