Miami Condo Project's $160M Loan Sparks Cautious Optimism

Law360, Miami (February 27, 2013, 8:04 PM EST) -- The revelation of a deal for $160 million in bank financing for a high-rise luxury condominium in Sunny Isles, Fla., generated buzz but not quite unabashed optimism Wednesday in a South Florida real estate market that has not seen such a deal in years.

A syndicate of banks, led by Birmingham, Ala.-based Regions Financial Corp. agreed to provide the construction loan for the Mansions at Acqualina, a 47-story condo project already under construction and scheduled to open in December 2014. According to the developer, the loan...
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