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South Florida

Miami office tower gets $130M loan

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The 600 Brickell office tower in downtown Miami has received a $130 million construction loan from Los Angeles-based Canyon Capital Realty Advisors. The loan is one of the largest new loans in Miami since the real estate downturn began. Brickell Holdings, an affiliate of Miami-based Foram, is the developer of the 40-story project, whose 600,000 square feet are set to come online in the fall of this year. “This is an excellent commercial transaction at competitive rates,” said Foram chairman and CEO Loretta Cockrum.