(Delray Beach, Florida) – March 31, 2017 – Two leading international real estate families known for high quality urban development outside the United States, have partnered and announced the formation of Sofa Partners, a South Florida real estate and development company. Uniting experienced, top-tier development talent with outstanding capital relationships, Sofa Partners will bring contemporary urban living to the Arts and Entertainment district in the center of Delray Beach.
Headquartered in Boca Raton, Florida, Sofa Partners is led by two father-son teams, Manuel and Felipe Vergara, and Rafael and Daniel Rincon. Manuel and Rafael each have 35 years of development experience in Colombia. When their sons, Felipe and Daniel, proposed and sourced real estate development projects in South Florida, they were immediately onboard.
“We all share a vision for long-term development, investment and management in South Florida, in part because it’s where we love to spend most our time,” said Felipe Vergara. “The Vergaras and Rincons represent long-term family real estate success, and our partnership in Sofa Partners will solidify our best-in-class development platform. This collaboration has unlimited potential to develop a stellar portfolio in emerging markets in South Florida, and we intend to set the standard for quality with 111 First Delray.”
Felipe Vergara, Manuel Vergara, Maria Vergara, Rafael and Daniel Rincon
To ensure the project’s success, Sofa has assembled an all-star team of business partners including George Ligeti of The Greenfield Group and Paul Kilgallon of Mainstreet Capital Partners. Each brings an extensive array of business and general management experience to the table, as well as a thorough knowledge of the construction industry. Ligeti and Kigallon have a combined 40 years of success in South Florida real estate, with an unparalleled attention to detail and a hands-on approach.
Further sourcing the best local talent, Sofa has contracted Richard Jones Architecture and Carrie Leigh Designs, two award-winning boutique firms known for their ability to enhance living space through high-quality design. Current Builders is the general contractor, with 44 years in business and a ranking of 9th largest residential contractor in Florida. Sofa has retained Nestler Poletto Sotheby’s International Realty, the region’s preeminent residential brokerage, known for representing only the most exclusive properties to lead the sales efforts for 111 First Delray.
Sofa Partners’ first South Florida project, 111 First Delray, represents the first luxury condominium development in Delray Beach in more than 10 years. Located at 111 SE 1st Avenue, 111 First Delray will offer luxurious resort-style living, steps from burgeoning Atlantic Avenue in the heart of Delray Beach, central to everything that has contributed to Delray’s popularity and growth, and also less than a mile from the beach.
“We selected Delray Beach because it has become the place for locals and visitors alike to dine, shop, socialize and experience an urban setting mixed with a quaint beachy-vibe,” said Vergara. “We saw an opportunity to meet a market demand and offer a luxury ownership alternative by creating an exciting and modern property, just feet from all the action.”
111 First Delray will feature a modern design and upscale appeal. Floor plans range from one-, two- and three-bedroom units. All include luxurious, standard features such as Bosch appliances, wood-look Spanish porcelain plank flooring, quartz countertops, modern technology and security. Community amenities include a landscaped pool deck with cabanas and a fire pit, covered entertainment deck with TVs, summer kitchens, and a pool table, a state-of-the-art fitness center, secure and covered parking, home automation, lightning fast internet speeds, and low HOA dues.
For more information about Sofa Partners and 111 First Delray, visit https://www.111firstdelray.com/
About Sofa Partners, Inc.
The developer of 111 First Delray, Sofa Partners, combines 100 years of general management experience in the construction and real estate industries. Sofa Partners handle investment, acquisition, construction, leasing, brokerage, and management – all with the underpinnings of high-quality construction, timely production, financial stability, and inspired design. Combined, Sofa’s leaders have developed and managed over 50 million square feet of space around the globe and across an impressive breadth of sectors including residential, healthcare, and office.
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