HOLLYWOOD, FL-The 200-unit Trump Hollywood condominium project on South Ocean Drive has received a $226.5-million construction loan from Lehman Brothers. With the loan, the project is on schedule to be completed summer 2009.

The project, a joint venture between Donald Trump and the Related Group's Jorge Perez, is being designed by architect Robert Swedroe with interiors by Yabu Pushelberg.

"Lehman Brothers was selected from an elite group of lenders to finance Trump Hollywood because of its financial strength, market expertise and longstanding relationship with the Related Group," says the Related Group COO Matt Allen. "Lehman Brothers is one of the few lenders in the market today with the ability to fully underwrite this deal and close within the required time frame."

Allen tells GlobeSt.com that foundation work for the project has just started. Of the 200 units, 115 have been sold. "In this market, it's a little tougher to get financing," Allen says. "We have a relationship with Lehman that dates back, so this worked out well for us."

Located on 240 feet of the Atlantic Ocean, Trump Hollywood will contain three- to six-bedroom units ranging in size from more than 2,000 sf to almost 9,000 sf. Prices for the units start at $1.6 million. The project includes a double-height lobby, private cinema, health and fitness center, tennis courts, billiards room, pool deck, spa and cabanas.