Related, GTIS Obtain $328M Brickell Construction Loan

Related Group and GTIS Partners have secured a $328 million construction loan to finance the development of Baccarat Residences Miami, located at the gateway of Brickell Avenue. Berkadia South Florida arranged the nine-figure loan. 

The property, which launched in late 2021 and is now more than 95 percent sold, is currently under construction and is expected to complete in early 2028.

Bank OZK provided the floating-rate loan with a competitive interest rate. 

The sister property to the record-breaking Baccarat Hotels & Residences NYC, the Brickell tower is made up of 355 residences, including just eight exclusive penthouses. 

The project was designed by architecture firm Arquitectónica. 

Residents will have over 75,000 square feet of amenities throughout five levels of the tower — including social spaces, a state-of-the-art health and fitness center, La Mer spa facilities, a private marina with residents’ yacht and more.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.