$60 Million Marina and Multi-Family Development with $45 Million Loan

Foreign Client and Local Developer

Assisted foreign client and local developer in their investments in various projects in “up and coming” neighborhoods in Miami, Florida. A failed condominium project, the 199-unit rental complex, was ripe for redevelopment as the marina had never been built and the zoning permitted an additional 100 units. Representation included negotiation with the seller for over nine months to get the off-market property under contract at a below market price and to secure very favorable non-recourse loan terms from its lender, and the structuring and negotiation of a joint venture agreement between the partners.

Suzanne M. Amaducci-Adams
Partner, Head of Real Estate
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...
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...
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...