Aconcagua Breaks Ground on Casa Princeton III With $35M Loan

Aconcagua Group has closed a $35 million construction loan from S3 Capital and moved dirt on Casa Princeton III, the eight-story, 162-unit final phase of its 374-unit rental community in Princeton, an unincorporated pocket of south Miami-Dade about 30 miles south of downtown. Miami-Dade County issued the building permit on August 4, and county records list T & G Corporation, doing business as T & G Constructors, as the contractor of record, the same firm that built the project’s first two phases.

Why it matters

For general contractors and subs working south Dade, this is a live jobsite with a named GC and a filed valuation, not a rumor. T & G Constructors, an Orlando-based licensed contractor (CGC036059), is running the trade buyout for an 8-story, 192,875-square-foot building, giving local subcontractors a specific number to bid against and a specific firm to call. Berkadia’s Miami team, led by Charles Foschini and Christopher Apone, arranged the S3 Capital debt on Aconcagua’s behalf, a non-recourse, floating-rate loan with a two-year term, typical structure for a builder finishing out a phased community rather than starting from raw land.

The numbers

Miami-Dade’s own permit system, queried directly, confirms permit 2026062859 for 12875 SW 248 St, owner-of-record Casa Princeton 248 III Land LLC, at an estimated construction value of $30.4 million against the reported $35 million loan, 162 residential units across 8 floors and 192,875 square feet. Phase II of the community delivered in March 2026 with 150 units and was roughly 40% leased as of the Phase III loan closing. Completion of Phase III is targeted for early 2028.

What’s next

Expect T & G Constructors to mobilize subcontractors on the south Florida site through 2027, with vertical construction following the same sequence as the community’s first two phases. The project also tests how much of south Dade’s rental pipeline keeps leaning on workforce-oriented unit mixes, one and two bedrooms averaging under 800 square feet, as land and construction costs push further from the urban core.