Developers and lenders are racing to meet the rising demand for well-located condominiums in South Florida. Even as interest rates climb, one Miami neighborhood is establishing itself as one of the country’s most in-demand markets for residents.
Miami-based Terra, in partnership with AB Asset Management, has secured a $43.2 million refinancing loan for Residences in the Grove, a 148-unit luxury condominium development in the Coconut Grove neighborhood. The financing was provided by the City National Bank of Florida and KS Finance Corporation. The money will fund preliminary demolition and site work to prepare for the project’s groundbreaking.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
