PPG, partners score $235M to build 728-unit North Miami Beach multifamily project
PPG Development and its partners scored $235 million to build a 728-unit multifamily project in North Miami Beach. The financing package consists of a loan and a preferred equity investment. The deal comes as construction lending continues to flow in South Florida, despite elevated interest rates, skyrocketing insurance, tariffs and other headwinds. PPG, led by Ari Pearl, as well as Isaac Khabie of Ark Ventures and Matt Press of EquiShares, plan to start development of the Palm Aire complex with five buildings on the former Nova Southeastern University campus by month end, according to Pearl and a PPG news release. […]This article originally appeared on The Real Deal. Click here to read the full story.
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