Related Pays Off $93M Paraiso Bay Construction Loan

Paraiso Bay’s construction loan has been fully repaid, just one month after the building opened.

The $92.6 million loan was issued in December 2014 by Suntrust Bank. It was fully satisfied on May 2, according to a filing by the bank.

Closings began on April 4, with the first deed hitting county records on April 10.

151 units were closed on by buyers through May 4, county records show. In total, there were 345 condos built, and 100% of units have been pre-sold.

The 53-story tower is the first of four that will open in the Paraiso Bay complex, with the others still under construction.

 

 

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Anonymous
3 years ago

Ugly.

Anonymous
3 years ago

Love the names… Paraiso District… Icon Beach…

Anonymous
3 years ago

That’s great…While they are at it maybe they can also pay back something to the Buyers of Paraiso for building such an ugly and plain looking building….

Anonymous
3 years ago

Hahahaha
They ll b sorry they didn’t buy at Missoni

Anonymous
3 years ago

I’ll only agree with your comment because OKO Group actually changed the color scheme they originally had for Missioni and most likely because they weren’t moving any units due to the horrendous color and patterns they had announced originally…If there was an Uglier design worse than Paraiso in all of Edgewater it was Missioni before the color changes… Looks good now after they updated their color scheme though.. (Thank God)

just me
3 years ago

i could not agree more, I really don’t what is the big deal with the whole paraiso district.

Anonymous
3 years ago

Amazing buildings…Buyers are super happy they bought at incredible prices with extraordinary views and lot more amenities (tennis,huge pool decks, marina,Restaurant by Michael Schwartz and a park) than any other project in the area.

Anonymous
3 years ago

you sound like a broker. are you a broker?

Anonymous
3 years ago

Russian porn-bot

Anonymous
3 years ago

I’m glad you guys cover these sorts of stories because The Real Deal won’t cover construction loans, groundbreakings, just a bunch of gossip!