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Insurance costs have skyrocketed over the past seven years due to a supply-demand imbalance stemming from the frequency and severity of weather events.
Sponsors Taubco and Landau Properties are planning to building a trophy office on Bay Harbor Island.
Chair Jerome Powell says the Federal Reserve will likely cut rates twice in 2025, significantly less than the four reductions expected prior to its meeting.
The developer, Terra, will use the financing for the first phase of a $1bn mixed-use community in South Florida.
Bank regulatory requirements and borrower tax implications are preventing resolution for stressed loans.
The firm sees a clear opportunity to expand its platform as banks scale back their commercial real estate lending platforms.
The project, being developed by Ascendant Capital Partners, is in the city’s West Village submarket.
The firm raised approximately $1.2bn for CRED III, which is already over 40% deployed.
The US national debt is a macroeconomic issue, one that may not touch the lives of commercial real estate lenders and borrowers on a day-to-day basis.
It is likely to be sector- and market-specific.