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.
Categories
Recent Posts
What’s next for housing: 7%, 8% or 9% mortgage rates?
REVEALED: All the Celebrities Who Have Flocked to Nashville in Pursuit of a Slower Life—and Fewer Paparazzi
HELP A DIABETIC CHILD (HADC) TO HOST ANNUAL FUNDRAISER NOVEMBER 13th
Tiger Woods Spearheads Gated Golf Community in Texas with Luxury Homes Starting at $1M
Denver’s Historic $10.75 Million ‘Tom Shane’ Estate Hits the Market as City’s Second-Most Expensive Home
Ex-MLB Star James Shields Cuts Price on Modern Rancho Santa Fe Estate to $19.9M
Off-Grid Earthship Home Hits the Market for $625K in Wyoming
Westchester’s Priciest Listing Hits the Market for $16 Million with 360-Degree Water Views
EXCLUSIVE: ‘Selling Sunset’ Star Emma Hernan Lists $12 Million Santa Barbara Equestrian Oasis
What Happens to Small College Towns When the School Shuts Down
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor License ID: SL3518131
Real Estate Advisor License ID: SL3518131