Paramount Condos Get $285M Construction Loan - m2e

Paramount Condos Get $285M Construction Loan

  • Posted by: m2e Team
  • Category: Uncategorized

Miami’s luxury condominium market may be lagging in sales, but construction financing is still flowing for projects already underway.
m2e Client, Paramount Miami Worldcenter, a 60-story tower with over 500 units, just landed a $285 million loan that will fuel construction at the downtown Miami site. The bulk of the loan comes from Mexico City’s Inbursa Bank, a financial group controlled by billionaire Carlos Slim that provided $170 million. The remaining $115 million was financed through BC Immigration Fund, tied to a New York-based financial institution.

The loans will also fund construction of the retail promenade at the tower’s base.
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Author: m2e Team