Developers Of Miami’s Le Parc At Brickell Condominium Close On $19 Million Construction Loan

MIAMI - May 8, 2014 - PRLog -- Miami-based developers ALTA Developers (http://www.altadevelopers.com/) and Strategic Properties Group (http://www.strategicpag.com/) announced today the closing of a $19 million loan from Banco de Crédito e Inversiones Miami Branch (BCI Miami) (http://www.bcimiami.com/eng/) to build Le Parc at Brickell (http://www.leparcatbrickell.com/), a 12-story luxury condominium under development at 1600 SW 1^st Avenue in Downtown Miami’s Brickell Financial District. Construction of the 128-unit project began in April 2014 and is already well underway, with completion slated for late 2015.

Buoyed by aggressive pricing for the upscale area, Le Parc at Brickell has proven to be the best value in Brickell – attracting buyers in the market for a Brickell condo with luxury amenities at a lower price-point. Preconstruction condos range from the low $300,000s to the mid $700,000s.

“This deal shows how banks are willing to lend to well-capitalized developers building projects in great locations,” said Patricio Ureta, CEO of ALTA Developers, on behalf of the project’s joint venture development team. “This loan speaks very highly of our development given the fact that lenders continue to be cautious in their lending practices.”

Upon completion, Le Parc at Brickell will offer one-, two-, and three-bedroom luxury residences, including studios and exclusive two-story townhomes. Units will feature private terraces with panoramic views of Simpson Park, the Miami skyline and Biscayne Bay. The building’s common area interior designs and furnishings will be inspired by the world-renowned Ligne Roset® – with custom-designed Turn-Key Furniture Lifestyle Packages available for purchase.

The ALTA-Strategic team is partnering with Greystone to develop two Miami residential properties, including a 119-unit multifamily property in Downtown Coral Gables called The Mile; and a 156-unit mixed-use high-rise project located at 2500 Biscayne Boulevard in Edgewater. In addition, the development group is teaming up with Related Group to develop a new luxury condo in Edgewater called One Paraiso.

For more information about Le Parc at Brickell, including preconstruction sales opportunities, contact Cervera Real Estate at (305) 373-5333 or visit the Le Parc at Brickell Sales Gallery at 21 SW 15th Road, Suite 100, Miami, FL 33129. Learn more at www.leparcatbrickell.com.