Ocean Bank has provided a $54 million construction loan to GFO Investments so the investors can build a Whole Foods-anchored Miami Beach venture. The loan covers the 1.34-acre site at 1901 Alton Road.
The South Florida Business Journal reports the four-story project will feature a 40,883-square-foot Whole Foods, a 4,000-square-foot Wells Fargo Bank branch and a 271-space parking garage. It will replace the 6,654-square-foot Wells Fargo branch currently on the site.
Studio Mc+G Architecture designed the project. The project should be completed in 14 months.
This will be the second Whole Foods on Miami Beach. The current market is at 1020 Alton Road.
GFO Investments is a private wealth management advisory firm focusing on real estate development and ventures such as hospitality operations, private financing, and capital market securities. The firm has been around for over 50 years. We represent and invest solely on our own behalf.
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