The Real Deal Miami

Lenders: Money still available

September 17, 2008 10:00AM

Developer Stuart Wylie, CEO of Graham Cos., isn’t shy about asking for money — and he’s getting what he needs. Even in a tight credit market roiled by the bankruptcy of Lehman Brothers, he says he expects to get three or four offers to loan the full $35 million needed to build his 270-unit Lakehouse Apartments complex in Miami Lakes. But bankrupt Lehman had backed a number of large local projects, and its demise sparked predictions of further pullbacks by lenders. Wylie and other market watchers say cash out there, as long as one’s credit is good.