13th Floor, Key International score $79M construction loan for 327-unit Delray Beach apartment complex
13th Floor Investments and Key International scored a $79.2 million construction loan for a 327-unit apartment complex in Delray Beach. The financing comes amid continued lending for new rental projects in South Florida, despite a multifamily supply overhang in the tri-county region. Coconut Grove-based 13th Floor and Brickell-based Key International started construction of the Skye complex at 2100 South Congress Avenue within their 50-acre Parks at Delray mixed-use project, according to the developers’ news release and a spokesperson. Boca Raton-based CDS International Holdings and Wexford Capital, with offices in West Palm Beach and Greenwich, Connecticut, are project partners. CIBC Bank […]This article originally appeared on The Real Deal. Click here to read the full story.
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