Market Reports · September 10, 2026
The Lincoln Coconut Grove Lands $58M Construction Loan
LORE Development Group and Element Development have secured $58 million in construction financing for The Lincoln, a 48-residence Coconut Grove condominium. Here is what has been reported about the loan, the project, and the questions buyers should still ask.
By Condo Invest Miami Research · Editorial & market research · 5 min read
A Financing Milestone for a Boutique Coconut Grove Project
LORE Development Group and Element Development have secured a $58 million senior construction loan for The Lincoln, a planned eight-story condominium at 2650 Lincoln Avenue in Coconut Grove. Public reporting identifies SME Capital as lender and Berkadia as the debt arranger. The reported structure is a 30-month loan with two six-month extension options.[1] [2] [3]
For a project already in construction, a construction loan is an important execution milestone. It provides funding intended to carry the development through its building program under the agreed lending terms. It is not, however, a guarantee of delivery timing, resale performance, future pricing, or the availability of any particular residence. Those answers remain specific to the project documents, a buyer's contract, and the development's evolving construction and sales status.
The Lincoln at a Glance
Topic · Reported or official context
--- · ---
Address · 2650 Lincoln Avenue, Coconut Grove, Miami
Development team · LORE Development Group and Element Development
Financing · $58 million senior construction loan from SME Capital, arranged by Berkadia
Program · 48 residences across eight stories
Residence mix · One- through four-bedroom layouts; six penthouses have been reported
Design and delivery · Paredes Architects, Design Philosophy, Cité Arquitetura and Winmar Construction
Sales and marketing · ONE Sotheby's International Realty
Reported construction target · Third quarter of 2028
The official project website describes a collection of 48 residences in one- through four-bedroom configurations and identifies both LORE and Element as the development team.[4] LORE's portfolio similarly lists the project as a 48-unit luxury condominium development that remains under development.[5]
What the $58 Million Financing Tells Us
Construction financing is generally more consequential than an early land acquisition announcement because it aligns a lender, development team, project budget, and a defined build program. In this case, published reporting says the financing followed a recent groundbreaking and that the development team had reported sales above 40 percent at the time of the announcement.[1] [2]
That combination—construction activity, reported presales, and senior debt—suggests a project moving beyond its early marketing phase. It does not eliminate the normal variables of condominium development: permitting, construction sequencing, material and labor conditions, lender requirements, association formation, changes to product specifications, or final closing requirements.
Commercial Observer also reported that LORE Development Group is a venture involving Miami-based Leste Group and Brazil's Opportunity Fundo de Investimento Imobiliário, and that the group acquired the approximately half-acre site in 2023 for $8.6 million, according to property records.[2] Those details help explain the capital and development backdrop, but they should not be read as a prediction of a buyer's financial outcome.
The Project and the Coconut Grove Setting
The Lincoln's published program is deliberately small by Miami new-development standards: 48 homes rather than a high-volume tower. Reporting describes one- to four-bedroom residences, wellness and coworking spaces, a golf simulator, pet facilities, and a rooftop area with a heated pool, private cabanas, outdoor kitchens, and an observation deck.[1] [3]
The location is near the Grove's commercial center, restaurants, marinas, and parks. That walkability is central to the project's positioning, but every buyer should evaluate the actual unit orientation, traffic exposure, neighboring construction, parking allocation, view corridors, and operating costs rather than rely on a neighborhood description alone.
What a Buyer Should Verify Before Reserving
Financing news is useful market intelligence; it is not a substitute for contract diligence. Buyers considering any Coconut Grove pre-construction residence should request and review the current offering documents, purchase agreement, deposit schedule, amendment history, projected closing window, condominium budget, insurance provisions, maintenance and management assumptions, parking and storage allocations, warranty process, and the latest construction update.
The project's official site states that marketing materials are conceptual and subject to change under the offering documents, and that the prospectus and applicable purchase agreement govern the offer and sale.[4] That is the right framework for a purchase decision. A prospective buyer should also ask the authorized sales team which specifications are contractual, which amenities are scheduled to open at delivery, and how any construction extensions are handled in the agreement.
The Bottom Line
The reported $58 million financing is a meaningful construction milestone for The Lincoln and adds a new data point to Coconut Grove's boutique-condominium pipeline. The project has an identified lender, a reported debt structure, a defined development team, and construction activity underway. At the same time, a financing announcement is only one part of the buyer's picture. The most important documents remain the current offering materials and the specific terms attached to the residence a buyer is considering.
Sources
- Florida YIMBY: Developers Secure $58 Million Construction Loan for The Lincoln in Coconut Grove
- Commercial Observer: LORE and Element Land $58M to Build Miami Condo
- Multi-Housing News: LORE, Element Land $58M for Coconut Grove Condo Development
- The Lincoln Coconut Grove: Official Project Website
- LORE Development Group: U.S. Portfolio
- South Florida Business Journal: Developer secures $58M construction loan for Coconut Grove condo
References
Reporting note: This is an original CondoInvest Miami market article based on reporting published September 8–9, 2026, and official project materials. Financing terms, sales progress, construction, product specifications, amenities, availability, pricing, and delivery timing can change. Buyers should independently verify all current information with the developer or authorized sales team and review the applicable offering documents with qualified advisers.
Frequently Asked Questions
What financing did The Lincoln Coconut Grove secure?
Published reporting states that LORE Development Group and Element Development secured a $58 million senior construction loan from SME Capital for The Lincoln at 2650 Lincoln Avenue. Berkadia arranged the financing. Reported terms were 30 months plus two six-month extension options.
How many residences are planned at The Lincoln?
The official project site and contemporary reporting describe 48 residences in an eight-story Coconut Grove condominium, with one- through four-bedroom layouts. Specifications should be confirmed through the current offering documents.
When is The Lincoln expected to be completed?
Florida YIMBY, Commercial Observer, and Multi-Housing News reported a third-quarter 2028 completion target. Construction schedules can change, so buyers should verify the current projected closing timing in the purchase agreement.
Does the construction loan guarantee that The Lincoln will be delivered on schedule?
No. Construction financing is an important execution milestone, but it does not guarantee delivery, pricing, resale value, availability, or an individual buyer's closing. The purchase agreement and current offering documents control the buyer's rights and obligations.
What should buyers review before reserving a Coconut Grove pre-construction residence?
Buyers should review the latest offering documents, purchase contract, deposit and refund terms, construction schedule, association budget, insurance and maintenance assumptions, warranties, parking and storage, specification changes, and any extension provisions with qualified legal and financial advisers.