The Related Group, the nation's largest condo developer and a key player in Miami, has secured a $1.4 billion cash infusion at a time when financing is getting tougher and projects are nearing completion.
The news comes after weeks of speculation on the street that big-money investors from abroad were in talks with Related to create a fund to accumulate excess condo units in disintergrating markets such as Miami.
It is unclear how and if this cash option will be used to accomplish that.
Here is a link to the story .
Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com.
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