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$320 Million Construction Financing for Paramount Miami Worldcenter

Paramount Miami Worldcenter
Representation of Paramount Miami Worldcenter in obtaining a $170 million construction loan and two mezzanine loans totaling $150 million. One of the mezzanine loans included EB-5 financing. Work on these loans took over eight months and began even before the land purchase was finalized. Paramount Miami Worldcenter, the $650 million centerpiece of the $2 billion Miami Worldcenter, includes development of a 564-unit residential tower and six-acre amenity deck.
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Robert M. Siegel

Robert M. Siegel

Partner, Head of Commercial Finance
Salomé Bascuñan

Salomé Bascuñan

Associate
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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
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...
Experience
Representation of the Official Committee of Unsecured Creditors in the chapter 11 case of Poinciana Development, a developer of more than 500 single family homes in Southwest Miami-Dade County, Florida, who ran out of construction financing and was unable complete the development of the last 34 home...
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