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$236 Million Construction Financing for Brickell Flatiron Condominium

Downtown Development Holdings, LLC and Tower Downtown Investor, LLC
Representation of Downtown Development Holdings, LLC and Tower Downtown Investor, LLC, companies affiliated with developer Ugo Colombo, in obtaining $236 million construction financing for development of Brickell Flatiron. The financing was a combination of mortgage and mezzanine debt. Brickell Flatiron is a 64-story high-end condominium tower in Miami's urban core which was designed by architect Luis Revuelta with interiors by Massimo Iosa Ghini.
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Jay M. Sakalo

Jay M. Sakalo

Partner, Business Finance & Restructuring and Corporate Practice Group Leader
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Experience
Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami...
Experience

Representation of debtor in possession in the chapter 11 case of Cabi Downtown LLC, the owner of an 849-unit condominium project owing over $250 million to a bank consortium, defaulting unit purchasers, trade creditors, and its general contractor. The case was the first large condominium filing i...

Experience
Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...
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