Photo: Rolando Yera / Unsplash. Illustrative stock photograph; not a property or company discussed in this article. Miami just set another lending record, and it is not for an office tower. Fortune International Group and KAR Properties landed an $817 million construction loan for Faena Residences Miami, according to Commercial Observer. The lender is Tyko Capital, which is backed by Elliott Management. Walker & Dunlop arranged the deal. Commercial Observer reports it is the largest construction loan in Florida’s history.…
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$817 Million for Two Miami River Towers. It’s the Biggest Construction Loan in Florida History.
Faena Residences Miami secured an $817 million construction loan for two luxury condo towers, with presales and buyer deposit risks in focus.
