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.
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