(Read more on the debt and equity markets andthe multifamilymarket .)
TAMPA, FL-Miami-based Cobalt Development Group has secured $66million in construction financing for the 280-unit Slade atChannelside condominium project. With the financing, which wasprovided by Wells Fargo Bank, a formal groundbreaking for theproject is set for Sept. 25.
A warehouse that was on the site of the project has beendemolished and site work has started. The project is 60% pre-sold,which assisted the developer in obtaining the financing. A companyspokesman tells GlobeSt.com that prices for the units range from$300,000 to $500,000.
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