Everglades on the Bay owner gets $90M loan
The company that scooped the remaining condo units in Miami’s Everglades on the Bay out of bankruptcy litigation has secured a $90 million mortgage. RW 244 Biscayne RES, an affiliate of private equity firm Rockwood Capital LLC, obtained the loan March 24 from German American Capital Corp., according to Miami-Dade County Circuit Court records. The loan covers 657 units that the company bought out of a bankruptcy court auction in 2010. Rockwood paid $142 million to purchase the mortgage from Bank of…
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