MIAMI—When SC Property Acquisitions landed its $290 million construction loan to develop Surf Club Four Seasons Private Residences and Four Seasons Hotel in Surfside, FL, attorney Luis Flores was working behind the scenes. Flores also worked on the $120 million construction loan for Biscayne Beach and the $112 million loan on Hyde Beach.

In a previous exclusive interview in this series, Flores, an attorney in Arnstein & Lehr's Miami office and chair of the firm's Florida Commercial Practice Group, told GlobeSt.com, what lenders look for in condo deals. Indeed, lenders have to be concerned about the supply-demand issue even in a region where the population is outpacing most of the rest of the nation. At least one condo project, Ion East Edgewater, has already stalled in the current cycle.

With some condo developers working with traditional financial institutions and other working with non-conventional lenders, we asked Flores what the big differences are. That's a key question, especially since doing business with the right lender is vital to the success of the project.