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CCIM Luncheon | July 13, 2018

Administrator
This month we discussed Cryptocurrencies, blockchains, and Real Estate Innovation. Bitcoins which are decentralized online peer to peer digital cash has been around for a few years now and is here to stay. We are seeing everything from real estate transactions to commission payments being made with bitcoins. Even though it is a complex topic CCIM did a phenomenal job
putting together the presentation and getting such a knowledgeable speaker, Andrew M. Hinkes, Esq. , to enlighten us on this topic.
Biltmore Parc Developer Scores Condo Inventory Loan For Unsold Units
Closed Transactions

Biltmore Parc developer scores condo inventory loan for unsold units

Coral Gables developer Alirio Torrealba closed on a condo inventory loan for unsold units at Biltmore Parc. Torrealba’s MG Developer secured a $7.75 million loan from BGI Capital, according to a press release. The financing comes as MG Developer hired One Sotheby’s International Realty to take over remaining sales of its Coral Gables developments, including 11 condos at Biltmore Parc. Fortune International Realty previously handled sales for MG Developer.
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