But the New York firm cautions even that sum may not be enough to solve the area's road and transportation problems, a situation that could affect most future commercial/industrial real estate development.
The series 2002 bonds will be sold through a syndicate to be formed by Wall Street-based Salomon Smith Barney at an undetermined date depending on market conditions.
The biggest transportation problem is Miami-Dade county is physical capacity. "Certain roadways are filled beyond capacity, making levels of service unsatisfactory," Fitch says in a prepared statement.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
