The Real Deal Miami

Newgard gets $28M mortgage on BrickellHouse project

December 09, 2013 03:00PM


BrickellHouse rendering and Newgard’s Harvey Hernandez

Newgard Development Group secured a $27.7 million mortgage on the BrickellHouse condominium project from an affiliate of Los Angeles-based Canyon Capital Realty Advisors.

The 46-story, 374-unit building at 1300 Brickell Bay Drive is halfway through the construction process. Nearly all of the units have been sold.

Last month, the developer resolved a foreclosure lawsuit by paying $17 million and attorney fees to lienholder JBG Development, as previously reported. [South Florida Business Journal]Mark Maurer