Condo Market Slack, But Money to Build Keeps Flowing

April 27, 2017
Posted by: m2e Team
Category: Uncategorized

A rendering of m2e client Paramount Miami Worldcenter’s Skydeck, a luxury high-rise under construction in downtown Miami.
Four $200 million-plus loans have closed since November, including three funding construction of high-end condo towers in Miami. The other is for an ultra-luxury property rising in West Palm Beach.
Miami lawyer Suzanne Amaducci-Adams said the large loans reassure the market that South Florida condos aren’t dead. She leads the real estate practice group at Bilzin Sumberg, which handled the Miami loans.
The firm said another sizable deal is in the works.
“There’s a fifth one coming,” Amaducci-Adams said. “I’m surprised that there were five. I’m not so sure how many more there are going to be in 2017.”
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Author: m2e Team

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