Developer Ugo Colombo is teaming up with Nadim Ashi’s Fort Partners on a planned Four Seasons-branded tower in Miami’s Coconut Grove, The Real Deal has learned.
The development would rise on the site of the former Offices in the Grove building at 2699 South Bayshore Drive, which is being demolished. Colombo’s CMC Group owns the nine-story building, known as the Kaufman Rossin office building. Miami-based CMC acquired the company that owns the real estate from Camilo Miguel Jr.’s Mast Capital in 2020. The entity paid $29.5 million for the property in 2014, records show.
Colombo is partnering with Fort Partners on the planned project, sources told TRD.
In a statement, CMC confirmed that it acquired the property in 2020 and that the phased demolition is underway. The existing building was constructed in 1972 and was designed by Kenneth Treister, an architect who also designed the Mayfair Shops and hotel, and the Holocaust Memorial in Miami Beach.
Fort Partners and CMC did not respond to requests for comment about the Four Seasons partnership.
Fort Lauderdale and Miami-based Fort Partners, led by Nadim Ashi, owns all of the Four Seasons properties in South Florida. The firm developed the Four Seasons Hotel and Residences at The Surf Club in Surfside, Four Seasons Hotel and Residences Fort Lauderdale, and owns the Four Seasons Miami hotel in Brickell and Four Seasons Resort in Palm Beach.
A sale at the Four Seasons in Surfside last year set the record in Miami-Dade County at nearly $5,800 per square foot.
In Coconut Grove, Colombo’s CMC is developing the nearby Vita at Grove Isle luxury condo building on the waterfront site at 4 Grove Isle. Before that, Colombo completed the condo tower Brickell Flatiron in 2019.
Coconut Grove has undergone significant redevelopment over the past decade. David Martin’s Terra developed the two-tower Grove at Grand Bay condo project in 2017. Terra partnered with Related Group on the nearby three-tower Park Grove development, the final phase of which was completed in 2020. Terra’s Mr. C Residences, a two-building condo project, is under construction.
Across the street from the former Kaufman Rossin building, the Treo Group developed the mixed-use marina on city-owned land, which includes the recently completed Regatta Harbour, and Bayshore Club restaurant, which opened last year.
Source: The Real Deal