Before you commit 40% of a purchase price to a pre-construction project, you should know who’s building it. Developer track record is one of the few variables you can fully research before you sign — and it’s one of the most predictive indicators of whether a project delivers on time, to spec, and with the promised amenity package intact.
Here’s what the record shows for Property Markets Group.
Who Is PMG?
Property Markets Group — universally referred to as PMG — is the developer behind Delano Residences & Hotel Miami. The firm was founded in 1991 by Kevin Maloney and is currently led by Managing Partners Ryan Shear and Dan Kaplan.
Over more than three decades, PMG has completed over 180 real estate transactions including over 80 residential buildings in Manhattan alone. That’s not a marketing figure — it’s a verifiable portfolio that spans New York City, Miami, and Chicago, and covers acquisition, financing, construction, operations, and sales across all phases of the real estate cycle.
PMG’s Miami Track Record
PMG’s Miami work is the most relevant context for evaluating Delano. The firm has developed several significant projects in Miami over the past decade, establishing a reputation for high-design, luxury-tier delivery.
Most relevant to buyers today: PMG is also the developer behind the Waldorf Astoria Residences Miami — another supertall tower in downtown Miami — which launched successfully and demonstrated PMG’s ability to execute at the top of the market. Managing two of Miami’s most ambitious residential towers simultaneously is a statement about the firm’s operational depth.
For buyers, this matters because it means PMG isn’t new to Miami. They understand the market, have relationships with the city’s permitting and construction infrastructure, and have a brand at stake that they can’t afford to compromise with a poor delivery.
The Leadership: Shear and Kaplan
Ryan Shear and Dan Kaplan took over day-to-day leadership from Kevin Maloney as the firm expanded its Miami presence. Both are hands-on operators, not passive capital managers — a distinction that matters when a project runs into the inevitable complications of large-scale construction.
This type of involved leadership is visible in the quality of project decisions: the selection of Carlos Ott and CUBE 3 as the design team, the commissioning of Meyer Davis for interiors, the partnership with the Delano brand (operated by Accor). These are not cost-cutting choices. They’re commitments to a product tier that requires delivery.
What PMG’s History Means for Buyers
Deposit security. Florida law requires pre-construction deposits to be held in escrow, and PMG has the financing in place to reach construction milestones. The combination of escrow protection and a well-capitalized developer makes the deposit risk here materially lower than it would be with a first-time or undercapitalized developer.
Construction certainty. Projects fail to deliver for two reasons: the developer runs out of money, or the developer was never serious. PMG has neither problem. Their lender relationships, their equity base, and their reputation make project abandonment effectively inconceivable.
Specification integrity. Developers under financial pressure cut corners on amenities, finishes, and common areas. PMG’s track record shows consistent delivery of the promised product — particularly in their branded-residence projects where the hospitality partner is also watching.
Post-delivery operations. Once the building is delivered, PMG hands amenity and common-area management to the Delano brand (through Accor). This means the resident experience post-closing is managed by a world-class hospitality operator, not a typical condo association.
The Branded Residence Model
Delano is operated by Accor, one of the world’s largest hospitality companies. PMG’s ability to secure this brand partnership is itself a credibility signal — Accor conducts thorough due diligence before licensing its brands, and the Delano name in particular is tightly controlled.
This partnership also gives buyers something most condos can’t offer: access to Accor’s global owner benefits program, including Diamond status in the ALL loyalty program and preferred rates at 5,700+ hotels worldwide. That’s a tangible ongoing benefit that comes from PMG’s decision to build a genuine branded-residence product rather than simply attach a hotel name to a condo tower.
The Bottom Line
Vetting a developer before a pre-construction purchase is standard practice for sophisticated buyers. PMG passes that scrutiny convincingly. Thirty-plus years in the business, 180+ completed transactions, a live track record in Miami, and the operational infrastructure to deliver a 90-story supertall — the developer risk here is as low as it gets in pre-construction.
What’s left for buyers to evaluate is fit: does Delano match your use case, your timeline, and your financial goals? That’s the conversation we’re here to have.
Carlos Olivares is a Broker-Associate at Berkshire Hathaway HomeServices EWM Realty, Chairman’s Circle Gold. He represents buyers — not developers — in pre-construction transactions throughout South Florida.
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