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Cohen Places $110M Loan for Biscayne Multifamily

MIAMI—“Construction financing has become more scarce over the last year…”

By Jennifer LeClaire | jenniferleclaire | Updated on June 02, 2016

300 Biscayne is PMG's first South Florida multifamily development. 300 Biscayne is PMG’s first South Florida multifamily development.

MIAMI—Property Markets Group, a developer with bets in New York, South Florida and Chicago, just closed a $110 million loan to build 300 Biscayne. Cohen Financial‘s Eric McGlynn, Kevin O’Grady, and Daniel Sheehan of Cohen Financial‘s Miami office facilitated the loan.

Cohen Financial secured an $80 million construction loan from Centennial Bank in conjunction with a $30 million preferred equity investment from Square Mile Capital. Cohen Financial secured the financing in partnership with Steven Fischer of SRF Ventures, a real estate advisory firm.

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