Lenders returning to Miami construction sector

With 26 new condominium projects planned in South Florida, financing is beginning to emerge for their construction, according to the Miami Herald. Since October 2011, banks have provided $775 million in financing for a total of 17 projects in Miami-Dade County, like the Bellini Williams Island. Some of the lenders include Mercantil Commercebank in Coral Gables and New York-based Ladder Capital Finance. It’s a trend Coastal Construction CEO Tom Murphy, Jr. mentioned to The Real Deal in an interview last week. [Miami Herald]