MIAMI—Related Group just inked a monster loan. The iconic commercial real estate developer just closed on $136.88 million in financing from Regions Bank.
Related will use the proceeds from the loan to construct the Arquitectonica-designed phase of CityPlace Doral. The mixed-use project will have 304 multifamily units atop 250,000 square feet of lifestyle retail. CityPlace Doral is over 60% pre-leased.
“This will be a game changer for Doral,” says Steve Patterson, president of Related Development. “Now that the anchor space and most of the F&B is spoken for, we will focus our leasing efforts on the fashion and soft goods tenants.”
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