The Real Deal has reported that KAR Properties closed on a $128 million condo inventory loan from Madison Realty Capital for an oceanfront development in Hallandale Beach, replacing the project’s $103 million construction loan. The 38-story, 64-unit building, called 2000 Ocean, was designed by Enrique Norten of TEN Arquitectos, with concept design by Kobi Karp. The Italian firm Minotti handled the common areas and furnishings. Amenities include two pools with cabanas, a spa, cafe, library, theater and entertainment room.

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