Miami - New Construction – PENDING CLOSINGS - This complex is comprised or three buildings that have a total of 1,640 units and as well as a hotel with 168 rooms. One of the three tower has closed about 20 or units since late December. The other two buildings have not yet not begun closing units. The project was 93% sold preconstruction at an average price of $550 a foot. Rents are expected to be in the $1.75 to $2 a foot range. HOA’s are $.57 a foot for all three buildings (that’s the individual condo association as well as the master association together). The loans on all three buildings total at least $678.5MM.