The Real Deal Miami

iStar foreclosure claims 324-unit building west of Miami

April 15, 2010 10:00PM

Windmoor Project, which was unable to sell any units in the 324-unit
Terrazas Riverpark Village condo west of Miami, has lost the property
in a foreclosure action by lender iStar Financial. According to a
report by Condo Vultures, the Terrazas River Park project, which is 2.2
miles north of the future home of the Florida Marlins in Little Havana, sold for $45 million, about $139,000 per unit in the
building. The March 2006 construction loan was valued at
$84.5 million. TRD