Skip to main content

$58.5 Million Construction Loan for Luxury Oceanfront Condominium

Multiplan Real Estate Asset Management

Representation of Multiplan Real Estate Asset Management, a real estate development firm, in a $58.5 million construction loan for 57 Ocean, a luxury, mid-rise, 71-unit oceanfront condominium in Miami Beach, Florida. The financing was obtained amid the social-distancing mandate and widespread shutdown caused by COVID-19 and closed within a tight three-week timeframe.

RELATED PEOPLE
MORE EXPERIENCE
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
Representation of joint venture between Starwood Hotels & Resorts and The Related Group of Florida regarding zoning and land use for the redevelopment of the six-star St. Regis Bal Harbour. The $1.5 billion project, located across from the Shops at Bal Harbour, consists of 285 condo-hotel units ...
Experience
Representation of a private real estate investment fund in the $43 million sale of a corporate center in Doral, Florida. This deal was particularly complex due to issues and delays caused by the COVID-19 pandemic which necessitated a loan modification during the sale process to extend the loan matur...
VIEW MORE EXPERIENCE