Pordes Residential Invests Equity in One Bal Harbour

Pordes Residential, South Florida’s most active sales and marketing firm for upscale condominiums for the domestic and international markets, announced that it has completed a partnership agreement to acquire, sell, and market the 42 condo-hotel residences at the most exclusive oceanfront property in South Florida.

Located at the tip of the Atlantic Ocean and the Haulover Inlet between Aventura and South Beach, the One Bal Harbour condo-hotel tower residences boasts the coveted AAA Five Diamond award for its unparalleled quality, location, luxurious views and five star service.

“The One Bal Harbour property is a landmark and considered the premier boutique condo-hotel and residential tower development in the upscale enclave of Bal Harbour,” said Mark Pordes, CEO of Pordes Residential Sales & Marketing. “Investing in this exceptional development presented my firm with a once-in-a-lifetime opportunity to participate in and sell one of the most sought after high-end properties in the world.”

Residents and hotel guests get to live and play in Bal Harbour, home to the Bal Harbour Shops, Miami’s most prestigious shopping destination. One Bal Harbour is the only luxury condo-hotel currently open in Bal Harbour.

“I am very excited about this joint venture with Pordes Residential,” said Jorge Arevalo, current owner of One Bal Harbour. “My expertise with developing and managing and owning hotels, and the Pordes team’s unparalleled success of selling, marketing, and repositioning high-end residential developments in South Florida, make us a winning combination.”

Pordes Residential invested in 42 of the 124 hotel-condo residences at One Bal Harbour, which include studios, one-, and two-bedroom designer-furnished units. All of the residences have direct views of the Intracoastal Waterway and the Atlantic Ocean.

Because of One Bal Harbour’s location, there is no potential for any future development to block any of these views. There are few comparable sites like this one.

“Having the three most important factors that traditionally help maintain value to a property are also key to success,” Pordes added. “Location, the quality of the finish in the units, and five-star level of services make this product a one of a kind.”

The tower includes 185 residential condos and 124 condo-hotel residences, a 10,000 square-foot, luxurious spa, and a world class restaurant and bar. There is an oceanfront pool and beachside service, housekeeping, in-room dining and all other hotel amenities one would expect of a five-star facility.

“We intend to relaunch the 42 residences within the next two weeks,” Pordes said. “We think the timing is perfect and the market has picked up substantially. Also with no other new inventory for sale in Bal Harbour on the beach, for immediate occupancy this season.”

Bal Harbour caters to affluent buyers primarily from the Northeast, Europe and South America, who expect and demand the highest quality and best level of service.