The Related Group and Block Capital Group secured $53.175m to develop a mixed-use residential and retail property in Miami’s Wynwood neighborhood. Holliday Fenoglio Fowler sourced the funding with a $33.175m construction loan from Santander Bank and $20m in preferred equity from Greenstreet Real Estate Partners. The scheme, called The Bradley, will feature 175 residential units along with approximately 32,000 sq ft of ground-floor retail space. Completion is set for late 2019.
“The Bradley, along with Related’s other Wynwood properties, are a preview of what’s coming to the neighborhood,” said Jon Paul Perez, vice president of The Related Group. “For a long time, Wynwood was seen simply as a weekend destination, but now the influx of high-quality residential and mixed-use options is driving the community’s transition into a true 24/7 neighborhood. We look forward to continuing work with our partners to help the neighborhood reach its full potential.”
