Paramount Condos Get $285M Construction Loan

posted on Thursday, March 9th, 2017 by Marketing Director

Miami’s luxury condominium market may be lagging in sales, but construction financing is still flowing for projects already underway.

M2E Client, Paramount Miami Worldcenter, a 60-story tower with over 500 units, just landed a $285 million loan that will fuel construction at the downtown Miami site. The bulk of the loan comes from Mexico City’s Inbursa Bank, a financial group controlled by billionaire Carlos Slim that provided $170 million. The remaining $115 million was financed through BC Immigration Fund, tied to a New York-based financial institution.

The loans will also fund construction of the retail promenade at the tower’s base.

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