400 Sunny Isles is the latest luxury condominium development to attract construction financing since the real estate market resurgence. Miami-based Key International recently secured a $43.1 million construction loan from Regions Bank to develop the two-tower condominium project.
Architects Chad Oppenheim and Kobi Karp designed the 230-unit development at 400 Sunny Isles Boulevard in Sunny Isles Beach, which broke ground in August, as previously reported. The project is already completely sold out.
“This deal signifies the healthy market that we are seeing and how lenders are willing to finance well-capitalized borrowers,” said Inigo Ardid, Vice President of Key International.