Canyon Capital Realty Advisors has provided a $123.6m construction loan to build Echo Brickell, a 57-story luxury condominium development in the center of Miami’s financial district. The loan represents the 12th investment Canyon Realty has made in the state of Florida since 2010. Echo Brickell is over 80 percent presold and construction is set to begin immediately.
According to hearldonline.com, other loans provided by Canyon Realty in the Brickell submarket include a $130m senior construction loan for 600 Brickell, a recently built Class A office tower (also known as Brickell World Plaza), and a $28m construction loan for BrickellHouse, a 46-story, 374-unit luxury condominium property.
Canyon Capital Realty Advisors LLC is the real estate direct investing arm of Canyon Partners LLC. Founded in 1990, Canyon Partners and its affiliates are investment management firms headquartered in Los Angeles, with approximately $25bn in assets under management.
