Lenders deal out $436M in financing for South Florida developments

Developers scored more than $400 million in financing for South Florida projects in recent weeks — led by JSB Capital’s $238 million refinancing of a Doral multifamily building — despite a tight financing market. New York-based JSB, led by Jay Lobell, secured its refi for the 631-unit Landmark South community from New York-based Torchlight Investors. Walker & Dunlop arranged the floating-rate, interest-only bridge loan. The financing amounts to $377,000 per unit. The property was developed in 2017 and 2021, and JSB picked it up for $255 million.  The building has one-, two- and three-bedroom apartments starting at $2,100 a month. […]

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