JPMorgan Chase Bank grants $75M loan to build Brickell apartment tower

JPMorgan Chase Bank grants $75M loan to build Brickell apartment tower

The Broadstone at Brickell apartment tower is about to commence construction thanks to a $74.9 million loan from JPMorgan Chase Bank.

Broadstone at Brickell LLC, an affiliate of Alliance Residential out of Phoenix, obtained the mortgage from the New York-based bank (NYSE: JPM) for the 1.9-acre site at Southwest Third Avenue and Southwest 11th Street. The developer acquired the property for $20.2 million in 2014.

The 372-unit tower will rise 24 stories and include a 520-space parking garage.

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Story by:
Brian Bandell – Feb 12, 2015, 1:53pm EST
Photo Courtesy: Scott Bridges

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