The Related Group Secures $137M Construction Loan for CityPlace Doral
DORAL, FLA. — The Related Group, in partnership with Prudential Real Estate Investors and Shoma Homes, has secured a $137 million construction loan for Phase III of CityPlace Doral, a mixed-use development located in Doral, west of downtown Miami. The third phase of development will include 304 residential units located above 250,000 square feet of retail space. CityPlace Doral is more than 60 percent pre-leased to tenants including The Fresh Market, CinéBistro-Cobb Theatres, Kings Bowling and 30 additional restaurants and retail shops. The first phase of CityPlace Doral is set to open in November 2016. Suffolk Construction is building the project, and Related Urban is in charge of leasing efforts.