MIAMI—Property Markets Group just won a $123.6 million senior construction loan for Echo Brickell, a 57-story luxury residential condo development in the heart of Downtown Miami's Brickell Financial District. Canyon Capital Realty Advisors offered the funds.

Ronald Muzii, Jr., South Florida-based senior director with Canyon, called the condo development an “iconic addition to the Brickell skyline." Echo Brickell is currently over 80% presold, and groundbreaking will begin immediately with delivery set for 2017.

“We expect the developer will deliver the highest quality residential experience available in Brickell today and look forward to working with them and their team,” says Muzii. “As the 12th investment in Florida in the last four years and the third major debt transaction in the Brickell submarket, the Echo Brickell transaction demonstrates Canyon Realty's commitment to invest in this community.”