Doronin’s OKO Group Receives Loan for Una Brickell Condo Tower

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Jonathan Goldstein from Cain International, Vlad Doronin from OKO Group and the condo renders from Brickell. (Getty, OKO Group & Cain International)

OKO Group, the real estate development firm led by billionaire Vlad Doronin, and Jonathan Goldstein’s Cain International secured a $ 128.3 million home loan for a waterfront condominium project in Brickell.

Bank OZK provided funding for Una Residences, a 47-story tower with 135 units that is currently under construction, according to a press release. The developer laid the foundation stone for the project a year ago and started sales about three years ago. The Fortune International Group takes over the distribution. The South Brickell Building at 174 Southeast 25th Road is scheduled for completion in 2023.

Condominium sales have risen in recent months, outperforming single-family home sales in some sub-markets due to the declining home inventory. As a result, a number of condominium developers have launched new projects in the Miami area this year, including the Related Group and Property Markets Group.

Una secured $ 76 million in sales between January and now, all from domestic buyers, the news release said.

Condo prices range from $ 2 million to $ 7.4 million, and penthouses go up to $ 21.6 million. The units range from two to five bedrooms.

Adrian Smith + Gordon Gill designed Una Residences. Features include three swimming pools, a fitness center and spa, and a restaurant. Buyers also receive membership to the Grand Bay Club in Key Biscayne.

A team led by Keith Kurland and Aaron Appel from Walker & Dunlop represented the developer on the loan.

In South Florida, OKO and Cain are also developing 830 Brickell, a class A office tower in the financial district. OKO is also working with Len Blavatnik from Access Industries on the Aman brand residential and hotel development in the Faena neighborhood of Miami Beach.

Home finance has returned after a hiatus during the pandemic. In March, developers Russell Galbut of Crescent Heights in Miami Beach and David Martin of Terra received a construction loan of US $ 345 for their planned residential tower at 500 Alton Road. And Terra looted US $ 64.8 million for the construction of Natura Gardens with 460 units near the mega-mall American Dream Miami and just outside of Miami Lakes.

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