MIAMI—Key International has closed on a $43 million construction loan for 400 Sunny Isles, a waterfront development in Sunny Isles Beach. Regions Bank offered the financing.
The closing comes on the heels of 400 Sunny Isles' recent groundbreaking in July. The joint venture behind the project will use the funds for further development and construction of the luxury condominium.
“The loan signifies a milestone in the development process at 400 Sunny Isles," says Liliana Paez, president of Key. The 230-unit project has been completely sold out for months and all of the boat slips have been reserved at the development's marina, which is the largest private marina in the immediate area and capable of accommodating megayachts.
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