The Real Deal Miami

Related’s Paraiso Bay gets $93M construction loan

SunTrust Bank granted the loan

January 06, 2015 02:15PM

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China Construction now owns Plaza Construction, the general contractor for Paraiso Bay.

Related’s Paraiso Bay gets $93M construction loan

SunTrust Bank gave a $92.62 million construction loan to the Paraiso Bay condo tower in Edgewater being developed by the Related Group.

The loan was obtained by PRH NE 31st Street LLC, an affiliate of Related, according to a published report.  

The 53-floor luxury tower designed by Arquitectonica is scheduled for completion in 2016 and will have swimming pools and tennis courts, among other amenities.

One Paraiso, also by Related, is going up nearby. [South Florida Business Journal] Heather Grossmann

  • koe

    I would love to know who the sales man is for related in regards to getting a bank to lend them more loans for buildings they are still in phase one for and did not sell even 20 percent. Their finance director or whoever is speaking with the banks must be the best sales man because any bank to loan this company money for their cheap garbage they sell is retarded. made in china kitchens but “designed” in italy.

    • m305p

      Who said 20%. Paraiso bay is sold out. Do your research before slandering.

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