LORE Development Group and Element Development secured a $58 million construction loan for The Lincoln, a luxury boutique condominium tower they’re building in Coconut Grove. 

Berkadia secured the 30-month senior construction loan, which was provided by SME Capital and comes with two six-month extension options.  

The Lincoln, located at 2650 Lincoln Ave. in Coconut Grove, recently broke ground. When open, it will deliver 48 condos in one- to four-bedroom layouts, including six penthouses of up to 3,633 square feet. 

“We are pleased to complete this financing, which reinforces the quality of The Lincoln, its prime Coconut Grove location and the strength of our development team, shareholders and investors,” said Jorge Rucas, director of U.S. real estate at LORE.  

ONE Sotheby’s International Realty is handling sales and marketing for the development, which is over 40% sold. It is expected to open in the third quarter of 2028. 

“Buyers are recognizing The Lincoln’s exceptional combination of thoughtful design, elevated amenities and irreplaceable location with immediate access to the absolute best of South Florida,” ONE Sotheby’s President and CEO Daniel de la Vega said. 

Community amenities include a 40-foot-long rooftop pool and observation deck, sauna, steam room, hot and cold plunges, fitness center, golf simulator, co-working lounge, media area and dog park.