Cole Schotz Advises Continuum Co. in $29.5M Acquisition, $49M Loan for Bay Harbor Islands Condo Sites
Cole Schotz P.C. represented developer Bruce Eichner’s Continuum Company, LLC in connection with a $29.5 million acquisition of the former Royal House and Island House located in Miami, Florida’s Bay Harbor Islands. Cole Schotz also assisted with a $49 million construction loan from Fortress Investment Group for the financing of a condo development project.
The plans for the development include two waterfront eight-story residential buildings, consisting of 226,111 net square footage, which will contain approximately 148 residential units, 296 parking spaces and 40 boat slips.
The Cole Schotz team included members Matthew Schneid and Danielle Pasquariello, associate Drew Barone and paralegal Rosanne Cohen. Fortress was represented by Milbank LLP.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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