Brightline looks to raise $100M, sell Fort Lauderdale property amid cash crunch
The passenger rail line linking South Florida and Orlando is scrambling to shore up liquidity as it faces mounting debt obligations, and it’s offering up some real estate to address the cash crunch. Brightline is seeking approval from key lenders to raise $100 million in debt to fund day-to-day operations and potential legal costs, even as ridership and revenue show signs of improvement, the South Florida Sun Sentinel reported. The Miami-based operator also listed a seven-story parking garage next to its downtown Fort Lauderdale station for sale, asking $20 million. The 571-space garage at 300 Northwest Second Street is on […]This article originally appeared on The Real Deal. Click here to read the full story.
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