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Brokerage
Posted: November 3, 2008
Kennedy Funding closes on $10.14m loan to 888 Biscayne Ent.
Kennedy Funding has closed a $10.14 million loan to 888 Biscayne Enterprises. The loan is for the acquisition of the four-story commercial space in the Marina Blue Condominium building overlooking Biscayne Bay at 888 Biscayne Blvd. The unfinished commercial space has four stories and 44,000 s/f.
The residential portion of the condominium tower is 90% sold and occupied.
After detailed analysis of the market, the property, the collateral and other relevant factors, Kennedy saw sufficient potential in the commercial space to approve the loan.
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