Bilzin Sumberg Represents Owner/Developer of South Beach Project

Press Release
September 12, 2007

Miami, Florida, September 12, 2007 Bilzin Sumberg Baena Price & Axelrod, LLP is pleased to announce the closing of financing of The Shops at Fifth & Alton, located at the northeast corner of the intersection of 5th Street and Alton Road, at the gateway to South Beach, Florida.

Arnold A. Brown, Of Counsel in Bilzin Sumberg's Real Estate Group, represented the joint venture between Berkowitz Development Group and The Potamkin Companies, in leasing connected with the project as well as the negotiation, structuring and closing of a $70 million construction and permanent financing loan funded by the Metropolitan Life Insurance Company.

The firm also represented Berkowitz Development in the formation of its joint venture with The Potamkin Group, and handled their negotiations with the City of Miami Beach for the development of a municipal parking garage that will be included as part of the project. The signature retail shopping center development will include Publix Super Markets, Best Buy, Staples and several other national retailers.

About Arnold A. Brown

Mr. Brown's practice encompasses planning, acquisition, development, financing, leasing and sales on projects ranging from retail and mixed use developments to parking garage properties.

About Bilzin Sumberg's Real Estate Group

Bilzin Sumberg's Real Estate Group routinely provides legal counsel locally and nationally across a broad range of complex commercial real estate practice areas, including development and construction, purchase and sale, financing and restructuring, condominiums and condo/hotels, leasing, and technology.

About Bilzin Sumberg 

Bilzin Sumberg is a commercial law firm based in Florida. The Firm’s core practices include Business Finance & Restructuring, Corporate, Environmental, International, Land Development & Government Relations, Litigation, Real Estate, and Tax. For more information, please visit bilzin.com.

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