Miami-headquartered Related Group and New York-based Tricap have finalized $141.5 million in financing for the NoMad Residences Wynwood, a short-term rental condominium project, which is reported to be 80% sold, as per an official statement.
Miami-based Related Group and New York-based Tricap have secured $141.5 million in financing for the NoMad Residences Wynwood, a short-term rental condo project that's currently 80% sold, according to an official release.
Units at the short-term rental-friendly NoMad Residences Wynwood start at over $600,000.
Beverly Hills-based investment management firm Kennedy Wilson provided the development team, which also includes Miami-based Lndmrk Development, with a $90 million senior construction loan for the project, which commenced construction in October. Related Fund Management, the investment management arm of New York-based Related Cos., provided a $51.5 million mezzanine loan.
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