The first large construction loan for a condo building since the financial crisis!

I meant to comment on this a few weeks ago.   This is a large $160 million dollar loan for a large condominium building in Miami.  As a reference point, I suspect Viewpoint’s condo loan for the developer was around $40-60 million. So this is the first big Developer Condo loan since the financial crisis. Make no mistake, it represents a turning point with regard to large bank’s and syndicate’s appetite for these large commercial condo developments.

Sure Banks have been lending for premium Apartment highrises throughout the country since 2009, but this is the first construction loan for a condo building.   Have a look at the article below from the Wall Street Journal on February 27, 2013.

http://online.wsj.com/article/SB10001424127887323699704578328450387025258.html