Pearlmark Provides $81 Million Construction Loan for Coral Gables Multifamily Project

Swiss investment firm Empira Group has obtained an $81 million construction loan from Pearlmark for its Aurelian multifamily project in Coral Gables, Florida. The 12-story development, located on a 1.2-acre site at 114 Calabria Avenue, will feature 160 apartment units. CBRE’s Charles Crapse and Denny St. Romain facilitated the financing for Empira Group.

Empira Group acquired the property in 2025 for $18 million and recently broke ground on the project. Designed by Coral Gables-based Behar Font & Partners, Aurelian is slated for completion in 2028. The development will include 248 parking spaces, a swimming pool, fitness center, yoga studio, coworking space, entertainment lounge, and a pet grooming station. Additionally, Empira plans to create a 6,000-square-foot public park on the western portion of the property, adding a community amenity to the area.