Waterfront Property Assembled for Luxury Condominium in Sunny Isles Beach

Developer

Creation of a unique strategy that enabled the developer client to buy out an entire building of time share units from over 100 owners on coveted waterfront property in Sunny Isles Beach, Florida. The developer was able to assemble 6 acres of developable land for an ultra-luxury condominium project. Representation included the negotiation of the initial $71 million bridge mortgage loan, with construction conversion features to build the two high rise luxury condominium towers.

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Representation of B piece and special servicer clients, handling in excess of $22 billion in new securitizations in 2013-14.
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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 Mi...

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