Miami’s luxury condominium market may be lagging in sales, but construction financing is still flowing for projects already underway.
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.
