Monte Carlo Luxury Rental Development in Miami Beach Goes Vertical

Online, October 15, 2012 (Newswire.com) - As South Florida's residential real estate market continues to rebound, Miami Beach's newest residential tower is moving onward and upward. The construction team behind Monte Carlo, a 21-story, oceanfront luxury apartment complex located in Miami Beach, has completed the project's foundation and is preparing for vertical construction. The 136-unit project is expected to be completed in February of 2014.

The development of Monte Carlo is being managed by Rilea Group, a full-service real estate development firm that has been active in South Florida since 1981. As project manager, the company is responsible for spearheading all aspects of the multifamily project from the ground-up.

Monte Carlo becomes Rilea Group's most recent project management assignment following the completion of the International Finance Bank headquarters in Miami and the firm's most recent equity developments: 1450 Brickell office tower and One Broadway luxury apartments, both in Miami's Brickell Financial District.

"Engaging Rilea Group as project manager affords the owner behind a new project, the expertise, relationships and hard-earned track record that has come to define our firm over the past 30 years," said Alan Ojeda, CEO of Rilea Group. "By managing all aspects of design, permitting and construction, we see to it that well-capitalized owners seeking to develop in South Florida are able to take their concepts from vision to reality with the support of an experienced, locally-based development team."

"Monte Carlo introduces a new standard of luxury living to Miami Beach's rental market," added Mr. Ojeda. "The project will cater to renters in the market for ocean views and a prime location on Collins Avenue, coupled with contemporary design and the highest-quality finishes throughout."

Designed by Revuelta Architecture International and constructed by Coastal Construction, Monte Carlo is located at 6551 Collins Avenue (65th Street) in Miami Beach's popular North Beach neighborhood, directly on the beachfront. Rental units will include studios and one-bedrooms. Amenities at the luxury apartment building will include two swimming pools and a jacuzzi, direct beach access, state-of-the-art exercise facility and spa center as well as a 24-hour concierge service.

For more information on Monte Carlo, contact Rilea Group at (305) 371-5254 or visit www.rileagroup.com.

About Rilea Group:
Miami, Florida-based Rilea Group is a full-service real estate development company that has been developing real estate projects in South Florida since 1981. The company has experience in all facets of real estate, including development, construction, leasing, and management. Past projects include 1450 Brickell office tower, Sabadell Financial Center, and One Broadway. Learn more at www.RileaGroup.com.