A $114.7 million construction loan has been granted to a joint venture between the Related Group and Dezer Development. The money will be used for the further build out of their Hyde Midtown Suites & Residences project. Located in the Midtown neighborhood of Miami, the project calls for 400 condominiums along with 60 condo hotel units. While the building is mostly funded by buyer deposits, the loan from Mack Real Estate Credit Strategies was secured to bolster the project. The buildings units will range from $359,000 to $2 million with completion expected in the first quarter of 2018. Arquitectonica designed the project, Hyde Midtown, and Moss Construction Management acting as the general contractor.
