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

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.