Saul Ewing Arnstein & Lehr partners Luis Flores, Miami. Courtesy photo
➤➤ Join the GlobeSt.APARTMENTS (formerly RealShare) conference October 29-30 in Los Angeles. The event will analyze the opportunity in the emerging trends and conditions of the multifamily market. Don't miss out on joining the 1000+ of the industry's top owners, investors, developers, brokers and financiers as they gather for THE MULTIFAMILY EVENT OF THE YEAR! Click here to register and view the agenda.
Developer PMG secured $161.5 million to build a 49-story downtown Miami apartment tower after its Saul Ewing Arnstein & Lehr attorneys worked through the deal's complexities.
PMG, which has offices in Miami and New York, and equity partner Greybrook Realty Partners, based in Toronto, Canada, obtained the loan for the 646-unit 400 Biscayne apartment tower. The deal closed Sept. 11.
Centennial Bank, based in Conway, Arkansas, was the senior lender, and Square Mile Capital Management LLC, an investment management company based in New York, was the mezzanine lender.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
