Miami condominium project gets $30.9M construction loan

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The developer of an Icon Bay condominium project in Miami’s Edgewater neighborhood has received a $30.9 million mortgage from SunTrust Bank, South Florida Business Journal reported.

The developer is a joint venture between Miami-based Related Group and New York-based Related Cos.

According to the newspaper, the 42-story project designed has 300 units under construction along Biscayne Bay.

Designed by Arquitectonica, the project is scheduled to be completed next year.

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