Edgardo Defortuna’s Fortune International Group and Manuel Grosskopf’s Château Group closed on additional financing for their under-construction St. Regis Residences in Sunny Isles Beach. Little Rock, Arkansas-based Bank OZK increased the existing loan by over $200 million to $418.3 million, completing the project’s construction financing, according to property records and a news release. Bank OZK … Read more
Miami commissioners voted to approve on first reading a proposal that would allow developers to double their density in specific neighborhoods, starting in Edgewater. Under the proposal, developers would pay $35,000 per unit into a Resilience Trust Fund for the additional density. Those funds would be used to help pay for flood control and climate … Read more
Even as Federal Reserve officials deliberate this week on interest rate policy, major employers including Amazon, UPS, and Target are announcing significant layoffs that may heighten the urgency for a rate cut. On Tuesday, as Fed Chair Jerome Powell and other members of the rate-setting Federal Open Market Committee (FOMC) began their two-day meeting, Amazon … Read more