GE Capital Funds $100M South Beach Condo Sale

MIAMI-The senior debt loan of $78.78 million to Athena Karlton SOBE LLC was for the acquisition and conversion of the 36-story, 399-unit Waverly at South Beach apartment tower in a deal with Orlando-based ZOM South Beach Ltd.

By Alex Finkelstein | July 05, 2002 at 01:01 AM

Athena Karlton SOBE LLC is buying the south Miami Beach property from Orlando-based ZOM South Beach Ltd. to convert the units to condo homes. The Athena Group of New York and the Karlton Cos. of Miami Beach are the buyers.

The occupancy and projected price range of the condo units weren't disclosed in a prepared statement from Holliday Fenoglio Fowler's Miami office which arranged the financing. Holliday'sRobert Kaplan, Manny de Zarraga and Ike Ojala participated in the funding program.

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