Scoring financing these days can be a tricky feat for condo developers. At The Real Deal’s third annual Broward Real Estate Showcase and Forum, the industry’s top brass discussed how South Florida builders are getting condo projects off the ground, despite a tough lending environment.
“The real estate market has its ebbs and flows, and when things go down a little bit, the market gets tighter and money gets tighter,” Jimmy Tate, a partner at Tate Capital, said during the event’s first panel. “My advice to those looking for financing is just make sure your underwriting is proper, your assumptions are realistic and they’re not pie in the sky, and be prepared to have a little more equity into the deal.”
Tate was joined by Louise Sunshine, FCER’s Jerome Hollo and KAR Properties’ Shahab Karmely for the panel, which was moderated by TRD managing web editor Hiten Samtani. The discussion touched on the myriad challenges South Florida’s developers now face, including growing inventory and moving product in cooling market.
To watch the panel in full, check out the above video.
For more videos, visit The Real Deal’s YouTube page.