The Astor Companies Obtains $59 Million Construction Loan for Merrick Manor; Luxury residential project in Coral Gables, FL on track for first quarter of 2019 completion

Merrick Manor, 301 Altara Avenue, Coral Gables, FL

CORAL GABLES, FL – Pioneering Miami developer The Astor Companies has obtained a $59 million construction loan for Merrick Manor, a luxury residential project rising in the heart of Coral Gables. Work is well underway at the 301 Altara Avenue site of the 10-story, 227-residence project.

Florida Community Bank provided the 24-month construction loan. Additional loan terms were not disclosed.

Henry Torres

“This is a significant step for our project,” said Henry Torres, President, CEO and Founder of The Astor Companies. “Securing this loan continues the momentum we have enjoyed since starting vertical construction during the first quarter of 2017. It sends a strong signal to the marketplace.”

The Mediterranean villa-style building is on track for a scheduled completion during the first quarter of 2019. Prominent architecture firm Behar Font & Partners, P.A. designed the building, with Witkin Hults Design Group providing landscape design.

Renowned South Florida-based interior design firm Interiors by Steven G. has continued a longstanding relationship with Astor by designing unit interiors at Merrick Manor. Jaxi Builders of Doral is the project’s general contractor.

For a complete copy of the company’s news release, please contact:

BoardroomPR

Todd Templin: ttemplin@boardroompr.com, 954-370-8999

Eric Kalis: ekalis@boardroompr.com, 954-370-8999