Ciprés, Rilea Group Secure $90 Million Construction Loan For The Rider Residences

Miami-based Ciprés, in partnership with veteran South Florida-based developer Rilea Group, has secured $90 million in construction financing for The Rider Residences, a highly anticipated luxury boutique condominium now under construction at the crossroads of Miami’s Wynwood, Midtown, Edgewater, and Design District neighborhoods.

The loan, provided by Mexico-based Banco Inbursa, will fund the ongoing development of the 12-story project, which will encompass 146 turn-key residences and 11,000 square feet of retail.

Following the project’s groundbreaking in February 2025, vertical construction is expected to commence in the coming months, with delivery slated for 2027. The financing was arranged by Javier Herrera of Franklin Street.

“The Rider represents a new benchmark for design-driven living in Miami, blending architecture, art, and culture in a way that feels both distinctive and timeless. Partnering with Banco Inbursa, one of the most respected names in international development finance, underscores the strength of this vision. Their confidence in The Rider reflects the project’s unique appeal, and our collaboration has been instrumental in bringing it to life,” said Diego Ojeda, Founder of Ciprés and President of Rilea Group.

With prices ranging from the $500,000s to upwards of $2.5 million, The Rider offers fully furnished studios, 1-, 2-, and 3-bedroom residences and penthouse units, with select floorplans featuring dens and half baths, ranging between 386 and 1,612 square feet in size.

Buyers are responding to The Rider’s bold, art-driven lifestyle, with strong pre-sales activity driven primarily by interest from European, South American and New York buyers. Sales are being exclusively led by Cervera Real Estate, whose expertise in luxury condo sales has been instrumental in the project’s momentum.

“From its bold design to its prime location at the crossroads of Miami’s most dynamic neighborhoods, The Rider offers a lifestyle unlike anything else in the market. Every element has been thoughtfully curated to create an experience that resonates with today’s sophisticated buyers, making it a standout addition to the city’s luxury real estate landscape,” said Alicia Cervera Lamadrid, Managing Partner of Cervera Real Estate.

In a first for a Miami residential development, The Rider is also accepting wallet-to-wallet cryptocurrency transactions, underscoring the developer’s commitment to forward-thinking, tech-integrated living.

The project’s distinctive blend of artistic expression and modern luxury has set it apart in Miami’s competitive market. Its prime location – at the nexus of Miami’s most vibrant cultural districts, across from Amazon’s future Miami headquarters and a block from Whole Foods – paired with Rilea Group’s legacy of innovative communities, attracted Banco Inbursa, one of Mexico’s most prominent financial institutions with a growing footprint in Miami. The development has also achieved record-setting retail sales, securing the highest per-square-foot pricing in Wynwood and Midtown, underscoring its value for both residential and commercial investment.

“Miami is a global city at the height of its creative and economic momentum, and The Rider reflects that vibrancy in every detail. With its strong sales, distinctive design, and visionary development team, The Rider stands apart as the kind of project that defines a neighborhood and elevates a city. Banco Inbursa is proud to support its realization,” said a spokesperson for Banco Inbursa.

Beauchamp Construction, a veteran in Miami’s building scene and the leading general contractor in the Wynwood area, is overseeing construction.