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Fractured Condos Get Refi

South Florida
Fractured Condos Get Refi

The South Florida condo crash might have been five years ago, but there are still fractured condo projects in need of refi--and some lenders are willing to step in and do those deals. (It's the holiday season, after all.) For the right deal and borrower, there's still financing available at great terms with flexible prepayment and releases of the individual units if that's part of the owner's long-term strategy, HC Real Estate Capital's Chris Cavelglia tells us. Recently Chris and colleague Kurt Hoffmann arranged a $12.5M refi for Briar Landing at the Enclave and Palms Point at Coral Springs, both in South Florida, which all together consist of 280 rental units within a total of 617 units.