Bilzin Attorneys Arrange $115M Loan for Hollywood Condo-Hotel
A number of Miami attorneys play roles in securing the construction loan for the Related Group's Hyde Beach House.
July 03, 2017 at 01:00 PM
4 minute read
A group of Miami lawyers came together to secure a $115 million loan for Hyde Beach House in Hollywood, a condo-hotel project spearheaded by the Related Group.
Bilzin Sumberg represented a joint venture Related formed to develop the tower, which now includes Dezer Development and Silverback Equity Partners LLC. Related originally partnered with 13th Floor Investments and Key International, but those two groups are no longer involved, a spokeswoman for the project said.
The borrower's lead counsel, Bilzin Sumberg partners Alexandra Lehson and Suzanne Amaducci-Adams, negotiated the loan when financing for new residential construction, especially luxury condominiums, is tight in South Florida. While most banks have exited the segment, some alternative lenders are still in play.
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