Ascendra, BAM land $60M construction loan for Miami condo project
A pair of developers scored a $60 million loan to build a condo building in Miami, as construction financing flows for South Florida residential projects amid higher interest rates. Ascendra Capital and BAM Development scored the loan for their planned eight-story, 117-unit Seventeen Gables Condominium at 1715 Southwest 27th Avenue/Douglas Road, according to the lender’s news release. Dwight Mortgage Trust provided the debt. Isaac Filler and Steve Edelstein were part of the Filler Capital team that represented the borrowers. David Scheer and Alex Izso of Dwight Mortgage originated the loan. Construction is expected to start immediately, with completion slated for […]This article originally appeared on The Real Deal. Click here to read the full story.
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