1 month ago Share BTI Partners funded construction of its Marina Pointe condo tower, in the Westshore Marina District, with equity until a loan was obtained last month. by: Kevin McQuaid Commercial Real Estate Editor
Commercial real estate financing has been harder to obtain since COVID-19 wreaked havoc on the U.S., but some projects have found a way to prevail despite the underwriting complexities brought about by the pandemic.
BTI Partners’ Marina Pointe condominium tower in the developer’s Westshore Marina District is a striking example in the Tampa area.
The Fort Lauderdale-based developer obtained a $92 million construction loan for the 17-story residential building late last year from Bank OZK, with help of multifamily finance specialist Walker & Dunlop.