Sunrise Realty Trust Committing $13 Million in Subordinate Loan for Excel Miami Apartments

MT Newswires Live

2024/11/18

Sunrise Realty Trust (SUNS) said Monday it has committed $13 million to a $26 million subordinate loan to develop the 24-story multifamily Excel Miami Apartments tower.

The remaining $13 million of the total loan has been committed by an unnamed affiliated entity, the company said.

Centennial Bank provided a $68.5 million senior construction loan, Sunrise said.

Price: 14.92, Change: +0.11, Percent Change: +0.75

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