Berkadia VP Brad Williamson tells us strong demand for construction loans means building in South Florida will continue its hot streak into 2015. (Stop betting on the Dolphins and start betting on the hard-hat industry.)
The new supply from 2014 is performing well, with both quick absorption and rents above projected. That’s catnip for developers, and they’re going to seek out new projects. Such as...
Berkadia's Miami office recently originated a $25M construction loan for The Queue, a 192-unit multifamily property that will be built at Southeast Ninth Street and Southeast Second Avenue in Downtown Fort Lauderdale. Brad, with South Florida manager Mitchell Sinberg, secured the three-year, floating-rate construction loan through Mutual of Omaha Bank.
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