Contact Information: Contact: Carolyn Van Gorder 305.416.7550 cvgorder@poshcondos.com
Corus Bank Condo Loan Purchased by Miami Developer Hyperion
| Source: Hyperion
MIAMI, FL--(Marketwire - September 15, 2009) - Hyperion Onyx Partners, LLC, an affiliate of
South Florida-based Hyperion Development Group, last week acquired the
construction loan held by Corus Bank for Onyx on The Bay, a 118 unit
condominium on Biscayne Bay in Miami.
The Onyx note purchase marks Hyperion's first such acquisition. The
company recently completed and successfully closed all 541 units at the
iconic Marinablue, a 60-story mixed use condominium in downtown Miami
across from the American Airlines Arena. In addition, Hyperion's asset
management division is running developer operations at the 396-unit Tao
Sawgrass condominium in Sunrise, Florida.
"Our success in this market has uniquely positioned us to partner with
developers, investment funds and banks to execute and maximize value at
challenging development projects," said Robert Vecsler, Hyperion's CEO. "We
expect our acquisition and asset management teams to continue to be active
in pursuing opportunities presented in this climate."
Hyperion Development Group (www.hypdev.com) is a Miami-based developer of
large-scale condominium projects. The group's asset management division
leverages its talented team and resources -- including its branded POSH
(www.poshcondos.com) ownership solutions -- to provide owners of real
estate assets with a full range of development services including
construction, unit closings, sales and leasing, and rental management.