Clouds rising over banks? As interest rates stay high, FAU survey handicaps risks for lenders with big books of commercial loans

The size of the construction loan is as stunning as the Miami super tall structure it’s helping to build.

The recently announced $688 million financing for the Waldorf Astoria Hotel & Residences, scheduled to rise 1,049 feet above Miami’s downtown on Biscayne Boulevard, is courtesy of Bank OZK of Arkansas and Related Fund Management.

But the building’s wow quotient  — it would be the tallest residential structure south of New York — is less of a factor for a Florida Atlantic...