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The Related Group partnership secures $53M financing for Miami mixed-use project

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The Related Group partnership secures $53M financing for Miami mixed-use project

A partnership between The Related Group and Block Capital Group received roughly $53.2 million of funding for the construction of a mixed-use residential and retail property at 51 NW 26th St. in Miami.

The financing, secured by Holliday Fenoglio Fowler LP, comprises an approximately $33.2 million construction loan from Santander Bank and $20 million in preferred equity from Greenstreet Real Estate Partners LP.

The Bradley is a mid-rise development which is expected to contain 175 residential units and roughly 32,000 square feet of ground-floor retail space.