The eight-story, 200,000-square-foot building was approved on the city's books five years ago. Construction financing just caught up to it.
Berkadia
Every story on The American Developer that names Berkadia, 12 and counting.
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S3 Capital's $35 million loan closes the 162-unit third phase of Aconcagua's 374-unit Casa Princeton community in unincorporated Miami-Dade.
The loan is the clearest go/no-go signal yet on underwriting spec office in Palm Beach County: a lender priced $118.6 million on a building with zero pre-leasing.
Berkadia's disclosed figures put senior debt at 68% of cost and total third-party capital near 84%, thin sponsor equity for a transit site.
The Miami-Dade permit lists the general contractor, the exact valuation and the owner entity behind the third phase of the 374-unit Casa Princeton community in unincorporated south Miami-Dade.
S3 Capital closed a $35M construction loan for the final 162-unit phase of Aconcagua Group's 374-unit Casa Princeton in Miami-Dade County.
El-Ad National bought the 99-room Sea Club Resort on Fort Lauderdale beach for $60M, with $40M in seller financing, on a site entitled for a 541-unit tower.
Cardone Capital paid $89.75M, or $318,000 a unit, for 282 Naples apartments, about 41% above a comparable South Florida trade this July.
An office and retail building at the gateway to South of Fifth changes hands as Rivani keeps adding to his Miami Beach footprint.
Interface Properties paid $40M, about $211 a foot, for the 95%-leased Fountains Center campus in west Boca Raton.
Koch money is showing up in Keys hospitality, and the exit is a villa sale, not a room night.
A LIHTC-plus-CRA stack is still getting affordable rentals built while market-rate lenders pull back.