Sabal Development scores construction loan on luxury homes

Sabal Development scores construction loan on luxury homes

An affiliate of Sabal Development just scored construction financing and will soon break ground on its custom-home community called Veridian Grove in south Miami-Dade.

The company, led by luxury home developer Pascal Nicolai, scored about $16.2 million in construction financing from Branch Banking and Trust Company, property records show.

Nicolai bought the 10-acre property at 8290 Southwest 120 Street in 2015, but no price was recorded. The developer plans to build 20 luxury homes priced from $2.6 million, with lot sizes starting at 15,000 square feet, according to a press release.

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