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South Florida

Vulture money swoops in

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Miami investment firm Park Capital Group LLC plans to invest $1 billion in business and real estate developments by next September, and will finance $200 million in projects around the globe this month. The opportunity to invest in large projects has been opened to private equity as bank lenders tighten their criteria. Vincent Bui, a spokesman for the real estate lending arm of Park Capital, said one project the group has already financed is located in Ohio and another is in Florida. A reluctance to reveal financial details has been a trend with many of the plethora of recently formed funds, especially in Florida, says Jack McCabe, CEO of McCabe Research & Consulting LLC in Deerfield Beach.