Related Group nabs $161M construction loan for Brickell Heights

The Related Group obtained a $160.5 million construction loan for its dual tower Brickell Heights project in Miami. Wells Fargo Bank, acting as an administrative agent for a group of lenders, granted the mortgage to Related Group affiliates 9SMA LLC and 9SMA West LLC. The Miami-based developer broke ground on the 49-story project at 850 South Miami Ave. in July 2014. Like most Miami condo projects during this new cycle, it’s heavily funded by 50 percent buyer deposits. Brickell Heights will have…