Kennedy Funding closes on $10.14m loan to 888 Biscayne Ent.

Kennedy Funding has closed a $10.14 million loan to 888 Biscayne Enterprises. The loan is for the acquisition of the four-story commercial space in the Marina Blue Condominium building overlooking Biscayne Bay at 888 Biscayne Blvd. The unfinished commercial space has four stories and 44,000 s/f. The residential portion of the condominium tower is 90% sold and occupied. After detailed analysis of the market, the property, the collateral and other relevant factors, Kennedy saw sufficient potential in the commercial space to approve the loan. ? ?