The developers of L’Atelier Miami Beach recently secured a $57 million construction loan. The deal was closed between the project’s developers, SMG Management and W Capital Group, and Romspen Investment Group, a Toronto-based company specializing in non-traditional real estate loans.
“L’Atelier Miami Beach is one of the last oceanfront properties in Miami Beach. We’ve seen strong sales and fully expect that trend to continue. Closing of the construction loan further validates the strength of this development and its development team,” says Anna Sherrill, Director of Sales for L’Atelier Miami Beach.
L’Atelier Miami Beach is a boutique, luxury oceanfront development. It will be acclaimed interior designer Holly Hunt’s first residential development. The project’s location in North Beach will bring never before seen luxury to the area with its five-star amenities. To date, 80 percent of L’Atelier Miami Beach residences have been sold with five residences remaining. The development is gearing up for a fall 2017 topping off and is scheduled for completion in 2018.
For more information on L’Atelier Miami Beach visit our website.