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Article: GMAC Commercial Mortgage Corporation and KeyBank Split $125 Million in Construction Financing for Miami's Downtown Dadeland.
- Article from:
- Business Wire
- Article date:
- July 30, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIAMI -- GMAC Commercial Mortgage Corporation (GMACCM) and KeyBank Real Estate Capital have each provided $62,500,000, for a total of $125,000,000 in financing for the Downtown Dadeland construction project in Miami.
Downtown Dadeland is a mixed-use development containing seven mid-rise buildings on a 7.43 acre site. The project includes 125,323 square feet of ground-floor retail and restaurant space, 416 residential condominiums on the upper floors, and a two-level, below-grade, parking garage with 900 parking spaces. The condominiums are currently 84 percent pre-sold, and major tenants in the retail and restaurant space include Pier 1 Imports, Cargokids, ...