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South Florida

Key gets $43M loan to build 400 Sunny Isles condos

Rendering of 400 Sunny Isles
Rendering of 400 Sunny Isles

Miami-based Key International secured a $43.1 million construction loan from Regions Bank to develop the two-tower condominium project 400 Sunny Isles.

Architects Chad Oppenheim and Kobi Karp designed the 230-unit development at 400 Sunny Isles Boulevard in Sunny Isles Beach, which broke ground in August, as previously reported.

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“This deal signifies the healthy market that we are seeing and how lenders are willing to finance well-capitalized borrowers,” said Inigo Ardid, president of Key International.

Building amenities are slated to include a private marina, spa, tennis courts and a business center. [Daily Business Review] — Mark Maurer

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BanksInternational Real EstateSunny Isles Beach