Search
 

Miami Condo Developer Wins $128M in Funding

MIAMI—Mission Capital's Jordan Ray gets granular on the lending arrangement and how it stacks up to other condo financing deals.

By Jennifer LeClaire | Updated on September 10, 2013

MIAMI—A joint venture partnership between Property Markets Group and JDS Development has secured $128.5 million in financing for two Florida condominium projects. Mission Capital Advisors arranged the capital.

The larger deal is a $106 million construction loan to complete development of Echo Aventura, a 190-unit luxury condominium high-rise at 3250 NE 188th Street in Aventura. Another $22.5-million, nearly 75%-loan-to-cost land loan on will allow the JV to develop Echo Brickell, a 166-unit luxury condominium high-rise that will be constructed at 1451 Brickell Avenue.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.