Canyon provides $28M construction loan for 46-story Tower in Miami

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Canyon Capital Realty Advisors has provided a $27.7 million senior construction loan to an affiliate of the Newgard Development Group to refinance an existing land loan and to fund construction costs for the completion of BrickellHouse, a 46-story, ultra-modern luxury condominium tower located off of Brickell Avenue in Miami, Florida.

BrickellHouse has already sold nearly all of its 374 residential condominium units, and construction of the project is more than 50% complete, according to a news release.

The project is scheduled for completion in the summer of 2014.

Upon completion, the condominium tower will feature 374 condominium units ranging in size from studios and 1-, 2-, 3-bedroom units to 7,000-square-foot penthouses.

The project also will include private balconies with bay, ocean and skyline views, as well as a 46th-floor rooftop pool deck, luxury health spa and fitness center.

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