MIAMI—The land grab in key Miami markets won't last forever. That's because there's very few prime parcels of land left to grab. How does that impact lending on land and the commercial real estate developers are planning to build upon it?
GlobeSt.com caught up with Luis Flores, an attorney in Arnstein & Lehr's Miami office, to get his thoughts on this question. Flores has a unique view on this topic.
Flores represented J. Milton & Associates in closing a $136.5 million loan for the construction of the Parque Towers project in Sunny Isles. The lender is Wells Fargo. In December 2014, he represented PMG-S2 Sunny Isles in obtaining a $167 million construction loan from Guggenheim Commercial Real Estate Finance to build the Muse project.
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