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Whitman Family Dev Ups Bal Harbour Shops Construction Debt With $190M

Summary by Commercial Observer
Whitman Family Development has secured an additional $190 million from real estate behemoth Blackstone (BX) to refinance and complete the expansion of Bal Harbour Shops, an uber-luxury mall north of Miami Beach, property records show.  The new floating-rate financing — from the private equity giant’s real estate debt strategies division, better known as BREDS — brings the total financing to $740 million. The debt replaces a $550 million construc…
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Commercial Observer broke the news in on Wednesday, December 18, 2024.
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