Michael Stern’s JDS to bring on partner Jeff Soffer at Mercedes-Benz Miami project, working on $1B loan

Michael Stern’s JDS Development Group is nearing a deal to bring on Jeff Soffer’s Fontainebleau Development as a partner and secure an over $1 billion loan for the Mercedes-Benz Miami condo project, The Real Deal has learned.  The deal, which has not yet closed, will replenish the project’s capital stack and would resolve litigation with the existing lender, allowing the nearly 800-unit branded condo project to resume. Byron Trott and Michael Dell’s firm, BD&T & MSD, is one of the lenders, according to sources.  The $1.06 billion financing package includes a C-PACE (Commercial Property Assessed Clean Energy) component, which encourages […]

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