MIAMI, May 28, 2014 /PRNewswire/ -- Ugo Colombo's CMC Group Inc. and international real estate developer Vladislav Doronin, chairman and founder of Moscow-based Capital Group, announced they have entered into a joint venture agreement to develop significant new projects in Miami's downtown Brickell area on land they own jointly.
The partners in the new joint venture are Ugo Colombo, widely revered as Miami's premier luxury condominium developer, and Vladislav Doronin, an international developer who has established a reputation for innovation and excellence, building over 70 million square feet of the most highly regarded luxury residential, retail and mixed use properties in Moscow.
"Vladislav Doronin brings to our partnership over 20 years of proven development experience and a global perspective on real estate investment," Mr. Colombo said. "All of his projects have been distinguished by a combination of outstanding design and flawless execution, creating environments that appeal to luxury buyers. Working with such a strong and capable partner has already been highly productive, and I look forward to a long and successful relationship."
"Ugo is simply the best in class and I am very pleased to be working with the recognized leader in Miami development," Mr. Doronin said. "We both see tremendous opportunity in Miami and in the Brickell area particularly. We also share a commitment to innovative aesthetics and relentless attention to detail, so I am especially pleased to partner with Ugo on these exceptional new projects, with more ideas in the pipeline."
The partners' two new Miami projects are high-end condominium super-structures. The first is the Brickell Flatiron, slated to be an architecturally distinctive 65-story building on a triangular lot at South Miami Avenue and Brickell Plaza. Expected to break ground by year end, the 750-foot skyscraper project is anticipated to include over 550 luxury residential units, 40,000 square feet of restaurant and retail space, and captivating amenities such as a 65th floor rooftop swimming pool and fitness facility with 360 degree views of the Miami landscape.
The partners expect to develop a second tower on their lot located at Brickell Plaza and Eighth Street, directly across the street from Swire's new complex, Brickell City Center. Expected to break ground in 2015, this second tower project is now in the design phase. Both new developments will live up to the exacting quality standards delivered by both developers in the past.
About CMC Group
Headquartered on Brickell Avenue in Miami, Florida, CMC Group is a full-service real estate development, construction, and investment company founded by visionary developer Ugo Colombo. CMC Group is recognized as South Florida's premier luxury condominium and commercial developer. Established in 1991 with pioneer Bristol Tower, CMC Group has redefined the South Florida condo market. CMC Group has continued to develop formidable projects such as Santa Maria, Porto Vita, 4000 Ponce and The Collection, Grovenor House and EPIC Hotel and Residences. For more information please visit, www.cmcgroupmiami.com.
About Vladislav Doronin
Vladislav Doronin has built an international reputation as a world-class developer. After founding Capital Group in 1993, Doronin became a driving force behind the evolution of real estate development in Moscow. He built Capital Group into one of the most successful property development companies in Russia, with a portfolio comprising over 70 major projects and a total area of over 70 million square feet, including some of the most significant buildings in present-day Moscow: business centers, hotels, residential, retail and mixed-use complexes. Doronin was the first in Moscow to start working with private investors to develop residential property and also the first to bring premier western architects and designers to Moscow to develop both residential and commercial projects. For more information please visit, www.capitalgroup.ru.
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SOURCE CMC Group