|
|
Article: Las Olas River House Corporation Secures $115 Million Construction Loan for New Fort Lauderdale Condo Tower.
- Article from:
- Business Wire
- Article date:
- March 25, 2002
CopyrightCOPYRIGHT 2002 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)
|
Business, News & Lifestyle Editors/Real Estate Writers
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 25, 2002
Deal Signals Growing Demand for Urban Residences;
55% Sold Since Sales Center Opening in May
Las Olas River House Corporation announced today that it has closed on a loan package for its capital structure totaling $115 million for the development of the 42-story Las Olas River House condominium, located at the foot of Las Olas Boulevard, Fort Lauderdale's trendy riverfront retail, restaurant and office hub.
The deal involved a $90 million first mortgage from Union Planters Bank and $25 million in mezzanine financing ...