Allen Morris scores $133M construction loan for Ponce Park Coral Gables condo project
Allen Morris Company secured a $132.5 million construction loan for its long-planned Ponce Park condo development in Coral Gables, The Real Deal has learned. Bank OZK is providing the loan for the planned 11-story, 58-unit project at 3000 Ponce de Leon Boulevard. The financing adds to a pipeline of planned condo projects that Bank OZK is the lender of in South Florida. Lotus Capital Partners, led by Faisal Ashraf, arranged the loan, according to a news release. It closed just two months after the same developer nabbed a $138.5 million construction loan for its Ziggurat condo project nearby in Miami’s […]This article originally appeared on The Real Deal. Click here to read the full story.
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