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The property's caldarium is said to be the first in Miami, according to The Well / Terra

The Well Bay Harbor Islands to open ahead of 2026 with Miami’s “first caldarium” with a US$238m refinancing loan

by Helen Andrews | 17 Nov 2025
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International wellness brand The Well and Miami-based real estate developer Terra have secured a US$238 million (€218.4 million, £183.5 million) refinancing loan to complete the new mixed-use luxury wellness development The Well Bay Harbor Islands in Miami, US. The loan provides the project with a long-term financing solution. The funds come from Eldridge Real Estate Credit, the real estate investing strategy division of Eldridge Capital Management, and global investment management
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The Wellness
Company profile: The Wellness
Through boundless insights, The Wellness specialises in innovation and sustainability of design, engineering, construction and after-sales services of spa, pools, fitness, leisure and other spaces for the hospitality and wellness industries.
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