Everglades condo gets $90M loan

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The Everglades on the Bay project in downtown Miami has secured a $90
million loan on the complex, after a company purchased the remaining
units at the tower out of bankruptcy litigation. The company, RW 244
Biscayne RES, which is an affiliate of Rockwood Capital, a private
equity firm, secured the loan Mar. 24 from German American Capital,
according to Miami-Dade County records. The two condo towers that
comprise Everglades on the Bay total 849 units. [SFBJ]