S3 Capital Provides $56M Construction Loan for Bay Harbor Luxury Condo – Commercial Observer

Regency Development Group has secured $55.7 million in construction financing to build La Maré Regency Collection, a 33-unit super-luxury condominium in the Bay Harbor Islands neighborhood outside of Miami, Fla. 

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S3 Capital provided the construction loan, while a  JLL Capital Markets team of Trent Niederberger, Jimmy Calvo, Paul Adams and Val McWilliams negotiated  the deal. 

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In a statement, JLL’s Calvo said that the development generated “strong pre-sales” and “significant lender interest,” during the early stages of construction.  

“This execution demonstrates the market’s conviction for high-end product in Miami’s top submarkets,” Calvo said. 

Located at 9927 East Bay Harbor Drive in Bay Harbor Islands — an affluent neighborhood near Surfside Beach in Miami-Dade country — the eight story La Maré will feature 33 units ranging from two to four bedrooms. On-site amenities for residents will include a rooftop pool, a spa, a fitness center and a private 13-slip marina. 

JLL noted that Bay Harbor Islands carries a population of only 5,900 but has a median income of $151,000, with home prices ranging from $4 million to $22 million. 

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Steven Jemal, managing director of originations with S3 Capital, said in the statement that the boutique La Maré  development “perfectly embodies the elegance and allure of Bay Harbor Islands,” 

La Mare is one of three luxury residential projects Regency is developing in the Bay Harbor Islands, with the other two being La Mare Signature Collection and La Mare Bay Collection. Construction began last month and is expected to be finished by the second quarter of 2026. 

Alex Troyanovsky, managing partner with Regency Development Group, said in a statement that he is “excited to launch this project …. introducing a new era of elegance and design to Bay Harbor living.”

Brian Pascus can be reached at [email protected]