Deutsche Bank Grants $118 Million Construction Loan For One Paraiso

Related Group now has construction financing for One Paraiso, after selling out most units.

Records show that Deutsche Bank and TPG issued a $117.5 million construction loan for the project this week. The mortgage was recorded on June 30.

The majority of the units in the planned 276-unit condo tower are said to have been sold. Prices are close to $700 per square foot.

A groundbreaking ceremony for the project was held in December, but foundation work didn’t actually get underway until last month.

PreviouslyFoundation Work begins At 53-Story One Paraiso