Developer Lands $214M Loan For Miami-Area Porsche Tower

Law360, Miami (September 25, 2013, 2:40 PM EDT) -- Dezer Development announced Wednesday that it has closed on a $214 million loan, the largest approved for a construction project in the Southeastern United States since the recession, to build its Porsche Design Tower Miami in Sunny Isles Beach, Fla.

The loan, from Wells Fargo NA, is almost 30 percent larger than the largest previous construction loan given out in South Florida since the recovery started, according to Dezer. It will help bring to fruition the 641-foot-tall luxury tower, which is slated to feature a robotic...
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