A milestone is hit in Miami where the city sees its first construction loan for a new condo...

|By:, SA News Editor

A milestone is hit in Miami where the city sees its first construction loan for a new condo project since the property crash. A group led by Regions Financial (RF) will lend $160M to The Trump Group (no relation to The Donald) for The Mansions at Acqualina. Terms were tight - $320M in pre-sales with 50% down payments were required as a condition of the loan.