MIAMI—Commercial real estate finance firm Walker & Dunlop reports it has arranged two large land loans in South Florida. the largest of which will help seed the development of the Waldorf Astoria Hotel & Residences Miami.
The two land loans in Miami and Boca Raton totaled $45.2 million. The Bethesda, MD-based Walker & Dunlop arranged a $33-million loan in connection with the development of the new Waldorf Astoria Hotel & Residences Miami at 300 Biscayne Blvd. The project is being developed by New York-based developer Property Markets Group (PMG), along with Toronto-based private equity and asset management firm Greybrook Realty Partners and S2 Development of Miami.
