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2019-07-11  15:35

CIJ USA

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Grunow Group secures $74.5m for Residence Club at Ocean Reef

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The Grunow Group secured a $74.5m construction loan for the Residence Club at Ocean Reef, a 48-unit condominium complex underway in the Ocean Reef Club in Key Largo, Florida. The 103,700 sq ft project will include one-, two- and three-bedroom floorplans ranging from 1,432 to 2,866 sq ft in three buildings. ACRES Capital originated the two-year loan on behalf of the developer. Peacock + Lewis designed the scheme, while Craft Construction is the general contractor.

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