MIAMI—Many closings come down to the wire,and some even have twists and turns as they do. Lately, creativedeal-making strategies are taking center stage in SouthFlorida.

Bilzin Sumberg's Adam Lustig represented Isram ResidentialMonterey Lakes LLC in connection with the acquisition of theMonterey Lakes Apartments, a 324-unit complex in Largo. The assettraded for $23.4 million. As part of the closing, the BilzinSumberg team helped secure a $15.8-million loan from GrandbridgeReal Estate Capital through its Freddie Mac program. Seemsstraightforward on the surface—but it wasn't.

"The seller's documents provided that the loan could be paid offonly on the first day of the month, period," says Lustig, a partnerin the firm's real estate group. "There was no flexibility ofclosing on the second or the third. We had to have all funds fromthe buyer and the lender funded into escrow with the title companyby no later than 10 a.m. on the first."