Miami River Condo Development Secures Record-Breaking Construction Loan
The financing represents the largest construction loan reported in Florida history.
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The financing represents the largest construction loan reported in Florida history.
Colliers’ Tom Farmer, Stephen Rutchik, and Ana Paula represented ownership in the lease negotiations. Tony Jones with Cushman & Wakefield represented the tenant.
Vision Real Estate Advisors represented both the seller and the buyer in the transaction.
A two-tower luxury condominium development in Sunny Isles Beach has secured a substantial new financing package, providing fresh capital as construction progresses. The transaction follows significant presales and earlier financing commitments.
The Riverside Wharf is designed to span 200,000 square feet and include a 30,000-square-foot nightclub, a rooftop pool day club, a 12,000-square-foot event hall, and 16,000 square feet of signature restaurant space.
The seven-story, 126,000-square-foot development is purpose-built for family offices, private equity firms, hedge funds and other high-net-worth organizations that require discretion without sacrificing connectivity.
A prominent 21-story office tower in downtown Fort Lauderdale has changed hands, with its new owner planning extensive upgrades to reposition the property in an increasingly competitive office market. The acquisition adds to a growing portfolio of South Florida investments.
The 286,890-square-foot office property also secured $82.1 million in buyer financing from City National Bank of Florida.
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Steve Medwin, Nick Wigoda and Dean Katz of Stream Realty Partners represented the tenant in the transaction.
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