Developers Secure $424M Loan for Rivage Residences in Bal Harbour
A $424 million construction loan has been secured for the development of Rivage Residences Bal Harbour, a luxury 24-story condominium tower. The loan was provided by TYKO Capital and announced by the project's developers, Related Group, Rockpoint, and Two Roads Development.
Construction on the project began in September. The development will feature just 56 ultra-luxury condos, with unit sizes ranging from 3,300 to nearly 13,000 square feet.
Sales have been strong, with over $100 million in transactions closed within the past 60 days.
The project is being designed by the renowned architectural firm Skidmore, Owings & Merrill (SOM), with interiors by the award-winning Rottet Studio.