The developer of Porsche Design Tower in Sunny Isles Beach has obtained a $214 million construction loan, which sets a post-recession milestone for private residential construction financing in the Southeastern United States.
Dezer Development LLC on Wednesday announced the loan came from a group of lenders led by Wells Fargo for the 18555 Collins Ave. luxury condo project. The loan value exceeds the $160 million obtained by the Trump Group earlier this year for Mansions at Acqualina as the largest for a single residential construction project in the Southeast since the Great Recession.
