Forman Capital is financing the construction of a new luxury condominium project in Miramar Beach, Florida – near Destin in the state’s panhandle region. The company provided a $38.5 million construction loan to the developer of the 97-unit Grove at Seascape Resort in the popular beach town.
Osborn Investments plans to develop the Grove on a vacant 11-acre site within the 330-acre Seascape Resort community. The project will include one, two, three and four-bedroom condominium residences ranging from 955 to 2,394 square feet. Amenities include a family pool with a lazy river feature, seven private cabanas and multiple pool pavilions; walking path; terrace seating; fire pit; outdoor workout area; playground; green space and surrounding gate with digital access.
Nearly 90% of the condos are already presold. The Grove at Seascape Resort is the first of a multi-phase high-end condo community that comprises three buildings.