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March 26, 2017

CEO Sounding Board

Florida CEOs answer: Is credit available from lenders?

Mike Vogel | 10/4/2011

Apartment Development
Joel Altman
Chairman - Altman Cos. - Boca Raton

Joel Altman
[Photo: Jeffrey Burnell]

"If it's for apartments. There's a greater availability today than there was 12 to 18 months ago. For the right property and the right sponsor, there is money available at the right leverage factor. Where we used to leverage it at 80% loan-to-cost or loan-to-value, today it's probably 60% to 70%. I've never seen the rental apartment business with the metrics as good as they are. I think the banks recognize that."

Tags: Trendsetters, Banking & Finance

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Florida Trend Video Pick

Florida's 'space coast' sees major return of business, employment
Florida's 'space coast' sees major return of business, employment

Frank DiBello, President and CEO of Space Florida, is interviewed in this video roundup of projects underway in Brevard County and Florida's Space Coast.

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