Ugo Colombo (real estate developer)

Ugo Colombo (Milan, 2 March 1961) is an Italian-born residential and commercial real estate developer in Miami, Florida.[1]

Ugo Colombo
NationalityItalian
Alma materUniversity of Miami
OccupationReal Estate Developer, Entrepreneur, Philanthropist

Early life

Colombo was born in Milan, Italy on March 2, 1961. He was schooled in a Lausanne, Switzerland boarding school and spent two years working for his father's industrial empire. He came to the US in 1983 and attended the University of Miami.[2][3][4][5]

Real estate

Ugo Colombo's real estate career began when he acquired and resold a group of foreclosed units from the Federal Deposit Insurance Corporation.[6][7] He then formed his company CMC Group, which focused on the management of distressed real estate in Miami. His company then entered the design and construction industry with a focus on high-rise luxury condominium buildings on Brickell Avenue in Miami, as well as in Aventura and Miami Beach. The first building venture he was a part of was the Villa Regina in Brickell, Miami. One of the next buildings he built was the 1992 Bristol Tower on the same avenue, which cost $80 million. He is also the founder of Glasswall, which creates impact-resistant glass for use in high-rise buildings,[8][5][9] including hurricane-proof glass.[10]

The Bristol Tower was one of the first buildings added to the Miami skyline in fifteen years when it was developed.[4] Colombo has stated that he uses glass and metal in his buildings as opposed to concrete for aesthetic reasons.[5] One of his buildings, the 54-story Santa Maria condominium in Miami, was the tallest American building constructed south of New York City when it was completed in the 1990s.[9] In 2003 Colombo partnered with the developers of a new hotel to replace the Dupont Plaza Hotel in Miami.[11] Colombo's most recent developments include Epic Residences and Hotel, a 55-story luxury condominium and hotel at the mouth of the Miami River in downtown Miami, and Grovenor House, a 166-unit luxury condominium project completed in 2006 of Miami's Coconut Grove community.[12]

In partnership with Portman Holdings, Colombo's CMC Group was one of two groups bidding to redevelop Miami Beach's aging convention center complex.[13] The project was later investigated due to concerns of bid rigging and Colombo was cleared of any wrongdoing.[12][14] At the end of May, 2014 Ugo Colombo established a joint venture with real estate magnate Vladislav Doronin to develop a number of luxury residential real estate projects in Miami, the first of which is called Brickell Flatiron with artist Julian Schnabel.[15][16] In 2014 Colombo sold an undeveloped parcel of land along the Miami River for $125 million, which he had originally purchased for $25 million in 2006.[17]

The Collection

In 1994, Colombo acquired The Collection, a seven-franchise luxury automotive dealership. Colombo bought The Collection after it had been seized by the U.S. government during a drug prosecution case against his ex-racing partner, Armando "Mandy" Fernandez.[18][19]

In 2018, The Collection opened Ferrari of Miami in Downtown Miami's Biscayne Corridor. Upon opening the new stand-alone showroom, The Collection became one of the largest Ferrari dealerships in the United States.[20] In 2018 The Collection also announced plans to open a 400,000 square foot joint Jaguar and Land Rover dealership.[21]

Personal life

Ugo Colombo is married to Sara Colombo, who owns the interior design shop NEST in Miami, which specializes in luxury interiors. They have three children together.[8][5] The two have also held charitable events in their home, including art auctions in support of Best Buddies International and the Brandt Foundation.[22]

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References
  1. "Ugo Colombo". Daily Motion. Retrieved 5 June 2014. Ugo Colombo is a Miami residential and commercial real estate developer.
  2. "Biography of Ugo Colombo". Ugo Colombo. Retrieved 5 June 2014. Born in 1961 in Milan, Italy, Mr. Colombo came to the United States in 1983.
  3. Ugo Stakes His Claim
  4. Life for Miami Real Estate Business Has Not Been All Play
  5. Epic Miami Overview
  6. Nordheimer, Jon (20 February 1996). "Nesting Beyond the Snowbirds;Foreigners Flock to Miami's Luxury Condominiums". The New York Times. p. 1.
  7. NORDHEIMER, JON (February 20, 1996). "Nesting Beyond the Snowbirds;Foreigners Flock to Miami's Luxury Condominiums". New York Times. Retrieved 5 June 2014. He started snapping up unsold condos auctioned by the Federal Deposit Insurance Corporation.
  8. Haute 100 Miami
  9. Miami Today profile
  10. Trendsetters
  11. Miami Developer to Erect Condo Towers on Site of Former Hotel
  12. Smiley, David Developer tangled in Miami Beach convention center probe, Miami Herald, retrieved on 21 February 2013
  13. Oscar Pedro Musibay (Dec 7, 2012). "Miami Beach could shortlist top convention center developers". South Florida Business Journal.
  14. Smiley, David Developer cleared in Miami Beach convention center bidding probe, Miami Herald, retrieved on 21 February 2013
  15. "Veteran Developers, Ugo Colombo and Vladislav Doronin, Establish Joint Venture to Actively Develop Miami Luxury Residential Real Estate Projects". The Wall Street Journal. May 28, 2014. Retrieved 5 June 2014. 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.
  16. Using Artists to Sell Condos in Miami and New York
  17. https://online.wsj.com/articles/condo-builders-fuel-land-rush-in-miami-1406052941?KEYWORDS=robbie+whelan
  18. Lyons, David (May 6, 1994). "Racing Buddy of Jailed Owner Bids for His Florida Car Dealership". Miami Herald. Knight Ridder.
  19. Francisco Alvarado (October 13, 2005). "Miami: See it like a drug dealer". Miami New Times.
  20. Reiser, Emon. "Inside the grand opening of Ferrari of Miami (Photos)". South Florida Business Journal.
  21. Bandell, Brian. "Coral Gables to consider developments by University of Miami, Jackson Health". South Florida Business Journal.
  22. http://hauteliving.com/2013/12/best-buddies-art-friendship-auction-raises-nearly-1-million/425481/#slide-3
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