Earlier in 2020, Fortune International Group and Château Group received a $119 million loan for the refinancing of La Playa de Veradero. Located in Sunny Isles Beach, this incredible project will bring luxury to the next level. The 4.7-acre site boasts beach frontage of 435 feet on the Atlantic Ocean. Furthermore, the project will feature 490 beautiful residential units on two condo towers.
The construction for this incredible project will happen in two phases. Back in 2015, the developers received site plan approval from the City of Sunny Isles. Since then, they have secured final approval. Some of the predevelopment work has been completed. This includes the demolition of an existing structure. In addition, there has also been a structural build-out of the project’s sales center.
The refinancing loan that the Playa de Veradero project received in 2020 will cover a couple of things. For example, it will finance predevelopment costs, and land carry costs.
Read full article here
Interested in learning more about Playa de Veradero?
AMG International Realty is a global real estate firm specializing in Florida. In addition, we are a full service agency ready to help you through every step of your investment. If you are you looking to buy, rent, or sell in South Florida, we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Contact us today!
Chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi)