Shahab Karmely nabs $128M condo inventory loan for new Hallandale project

January 5, 2022

Developer Shahab Karmely closed on a $128 million condo inventory loan for an oceanfront development in Hallandale Beach, replacing the project’s $103 million construction loan, The Real Deal has learned.
Karmely’s KAR Properties secured the loan from Madison Realty Capital. It pays off debt that Apollo Commercial Real Estate issued in 2018.

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