The Related Group and Dezer Development have officially announced that they have paid off construction financing for the recently completed Hyde Suites & Residences Midtown Miami. The $114.7 million loan was issued by an affiliate of Mack Real Estate Credit Strategies, a New York lending firm, in February 2016.
Read MoreRelated Group & Dezer Development Sells Newly Completed HYDE Midtown Hotel For $21.8 Million
Related Group and Dezer Development has completed the sale the hotel portion of the newly completed Hyde Midtown Suites & Residences luxury condo-hotel project in Midtown for $21.8 million. The buyer was Midtown Hotel Investment LLC, which is led by Haim Yehezkel of Elysee Investments
Read MorePROFILE Exclusive: Hyde Midtown Suites & Residences Tops Off
The Related Group, Dezer Development and Moss & Associates celebrated the topping off of the Hyde Midtown Suites & Residences luxury condo-hotel project in Midtown. The project features 410 luxury residential condos and 60 hotel suites. The 32-story, 480,000 SF building was designed by Arquitectonica with interior design by the Rockwell Group with a total cost around $98 million. Carlos Rosso of Related Group explained that the amenities will be tailored towards millennials and the younger generation. They will feature a Hyde Musice Lounge & Piano Bar, a yet to be announced SBE restaurant, pool terrace with putting green and tennis court, state-of-the-art fitness center and private screening theater. Hyde Midtown Suites & Residences broke ground in September 2015 and is expected to be delivered in October 2017. Photos by TAMZ Photography.