(Read more on the debt and equity markets.)
MIAMI-TRG–Brickell Point West, an affiliate of the Related Group, has secured a $176.5-million construction loan for the Viceroy Resort and Residences. The condo-hotel project will be part of the Icon Brickell Condominium complex.
The Viceroy Resort and Residences is a joint venture between the Related Group and Los Angeles-based Kor Hotel Group. It will be located on the first 12 floors of the third, 50-story Icon tower. Icon Brickell is a 1,780-unit, three-tower project on Brickell Avenue overlooking the Biscayne Bay. The towers will be constructed around a swimming pool with two city parks surrounding them. Architects on the project are Arquitectonica.
There are four models of Viceroy Icon Brickell hotel units. There will be 27 420-sf small studios, 54 480-sf standard studios, 27 590-sf large studios, and 27 one-bedroom units averaging 930 sf. Separate elevators will be dedicated to hotel guests and residents. Residents and guests will share Icon Brickell and Viceroy services.
The loan was provided by LaSalle Bank National Association. Greenberg Traurig, LLP shareholder Joel Goldman and associate Kimberly LeCompte, in the firm's Miami office, represented TRG. Law firm Foley & Lardner represented LaSalle Bank.
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