Bloomberg News | Miami Builder Colombo Forges Ahead With Condos Despite Slowdown

Developer Ugo Colombo has shored up financing for his latest high-end Miami condominium tower, one of the capstones to the downtown Brickell neighborhood that emerged from nowhere over the past decade. Even as concerns mount about a glut in high-priced Miami condos, Colombo’s CMC Group completed $236 million in construction loans for its Brickell Flatiron project. Jim Shindell, a lawyer with Bilzin Sumberg representing Colombo on the deal, said that the financing includes mortgage and mezzanine loans.

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