Two of the largest construction loans of the latest real estate cycle closed on the same day for condos on Biscayne Bay and a mixed-use project in Doral.
July 09, 2015 at 04:00 PM
1 minute read
Two of the largest construction loans of the latest real estate cycle closed on the same day as bank financing loosens up to meet developer demand.
In a deal that closed June 29, private equity giant TPG and Germany’s Deutsche Bank provided a $117.5 million loan to the Related Group, which is six months into building the 53-story One Paraiso condominium tower at 3121 NE Seventh Ave. in Miami.
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