News
Refi Rolls On
June 12, 2014
Condo cash isn’t the only flow of funds coming to South Florida. Avison Young principal Dan Carlo, in the company’s Miami office, tells us that South Florida remains an attractive outlet for lenders to fill their annual lending allocation. “With an employment growth rate nearly double the national average, lenders are more willing to bet on future rental rate increases,” he explains. Recently Dan, along with colleague David Eyzenberg, secured more than $12M to refi expiring debt on Summit Palms, a 352-unit apartment property in Lauderhill. The loan will enable owner Summit Property to complete the repositioning of the property.
