WATCH: South Florida’s top developers size up Miami’s post-boom market

Finding condo buyers and financing has become more difficult, panelists say

Edgardo Defortuna, David Martin and Art Falcone joined The Real Deal’s Hiten Samtani for a discussion on Miami’s post-boom market at TRD’s fourth annual showcase and forum last week. The panel touched on the challenges of a slow market, land banking, financing and more.

Falcone, co-founder and managing principal of Encore Capital Management, said the key to developing a major mixed-use project like Miami Worldcenter is to not use debt to finance land acquisitions.

“I’m in my 14th year – before we make our first dollar we will be in our 16th year,” he said.

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The slowdown has sent developers to other international markets to find buyers, like Turkey, Europe and China. Latin Americans still consider Miami a safe haven for investment, but “the perception today is the urgency is not that much anymore,” Defortuna said.

To watch the panel in full, check out the video above. – Katherine Kallergis

Produced by Jhila Farzaneh.