The Real Deal Miami

Key gets $43M loan to build 400 Sunny Isles condos

Key International developing two-tower complex

October 10, 2013 03:00PM

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Rendering of 400 Sunny Isles

Miami-based Key International secured a $43.1 million construction loan from Regions Bank to develop the two-tower condominium project 400 Sunny Isles.

Architects Chad Oppenheim and Kobi Karp designed the 230-unit development at 400 Sunny Isles Boulevard in Sunny Isles Beach, which broke ground in August, as previously reported.

“This deal signifies the healthy market that we are seeing and how lenders are willing to finance well-capitalized borrowers,” said Inigo Ardid, president of Key International.

Building amenities are slated to include a private marina, spa, tennis courts and a business center. [Daily Business Review]Mark Maurer

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