Integra Investments and 13th Floor Investments secured a $12.335 million construction loan for their Sereno Bay Harbor Islands condominium project. The 38-unit project is going up at 10201 E. Bay Harbor Drive in Bay Harbor Islands, a town located between Miami and Miami Beach. The developers obtained the property in 2012 for $15.33 million as part of a package deal. According to the developers the building is already 100 percent pre-sold with units priced between $912,000 and $1.5 million.
“We are thrilled to have closed this loan with City National Bank who has once again proven to be a strong partner for 13th Floor, our partners, and projects,” said Daryl Shevin, CFO of 13th Floor Investments. “We look forward to the success of Sereno and continued collaboration on future projects.”
