Newgard, Two Roads score $513M construction loan for Miami River condo project
Newgard Group and Two Roads Development secured a $513 million financing package for their One Brickell Riverfront luxury condo complex that’s under construction. An undisclosed lender provided a $370 million senior loan and 3650 Capital provided a $143 million mezzanine loan for the two-tower development at 99 Southwest Seventh Street in Miami, according to a press release. The project includes the 44-story, 362-unit Lofty Brickell tower and the 46-story, 422-unit Standard Residences tower. They’ll share a podium. A spokesperson declined to identify the senior lender. Miami-based Newgard has financed construction of the two-tower project so far with a $170 million […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
Latest billionaire request advances: Miami Beach commission to vote on Ken Griffin’s helipad
“We are #blessed”: South Florida’s top brokers talk Miami luxury living at The Real Deal’s Welcome to the New Miami event
$50M bankruptcy sale in Miami’s Blue Lagoon falls apart as Caroline Weiss hospitalized
Eastwind, TMT pitch multifamily addition to Delray Beach office complex
Palm Beach home listed for $30M tops signed contracts
Prestige buys back Dania Beach apartments for $27M
Miami to sue Miami-Dade County over Allapattah CRA
Megawatt moratorium: Palm Beach County OKs year-long data center pause
Name your price: David Simkins flips waterfront teardown in Miami’s Morningside for $24M
“I love when financing is difficult” Terra’s David Martin talks construction loans, branded condos at The Real Deal’s Salon Series Miami
