Developers pay off $115M in Miami construction loans as condos near sellout

South Florida developers knocked out a combined $115 million in construction loans for Miami condo towers that are nearly sold out, as the demand for hospitality-branded residences heats up in the region.  North Development paid off a $70 million loan to Forman Capital and Core Capital for Domus Brickell Park, while Rosso Development and Midtown Development paid off a $45 million mortgage to Arkansas-based Bank OZK for The Standard Residences, Midtown Miami. The projects have hit major milestones.  North’s 172-unit Domus Brickell Park recently opened and has posted 120 closings, while Rosso and Midtown’s 228-unit Standard Residences is nearing completion […]

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