Consultatio gets $332M mortgage for Oceana Bal Harbour

Argentine developer receives financing from HSBC-led consortium

TRD MIAMI /
Apr.April 29, 2014 09:45 AM

Eduardo Costantini’s Consultatio received a $332 million construction loan for its luxury Oceana Bal Harbour condo project.

The Argentine developer told the Miami Herald it obtained the mortgage from a consortium of lenders led by HSBC. Consultatio started building the 240-unit Oceana in December 2013. The all-glass tower is rising on the former site of the Bal Harbour Beach Club.

Miami-Dade County has not recorded the transaction.

“We thought it would be convenient for the company to obtain such a credit facility,” Costantini told the Herald.

The firm is close to finishing its first U.S. development, Oceana Key Biscayne. The project is slated for a July completion. Consultatio did not receive outside financing for the Key Biscayne project.

Costantini told the Herald his firm is pursuing additional projects in Miami and New York. [Miami Herald]Eric Kalis


Related Articles

arrow_forward_ios
(Credit: iStock, Oceana Bal Harbour)

South Carolina newspaper family’s trust buys Oceana Bal Harbour condo

88 Bal Bay Drive with Jeff Miller and Ruth and Alan Zelcer

Underwear manufacturers shed Bal Harbour mansion for $12M

Morris Gad and St. Regis Bal Harbour

Diamond in the rough: New York jeweler buys condo at St. Regis Bal Harbour

224 Bal Bay Drive with Dina Goldentayer and Michael Polsky

Waterfront Bal Harbour home trades for $24M, setting new record

The week in luxury: A map of Miami-Dade’s priciest condo sales

Brazilian entertainment mogul pays $8.5M for St. Regis penthouse

Ex-wife of Russian oligarch sells Oceana Bal Harbour condo

St. Regis Bal Harbour PH owner sues over strong odor

arrow_forward_ios