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Developer obtains $92M loan for 17-story residential building in region | Business Observer


1 month ago
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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. ....

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