Newmark Represents Aria Development Group In $95M Construction Loan For Miami Condo

The property involved in the transaction is a condo located at 600 Northeast 1st Avenue in Miami. It has a square footage of 345,146. The loan for this property was provided by Javier Foncerrada Izquierdo, representing Banco Inbursa. The landlord of the property is David Arditi from Aria Development Group, along with Dev Motwani and Nitin Motwani from Merrimac Ventures.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $95,000,000
• Lender: Javier Foncerrada Izquierdo - Banco Inbursa
• Landlord: David Arditi - Aria Development Group; Dev Motwani & Nitin Motwani - Merrimac Ventures

The construction loan amount for this transaction is $95,000,000. The deal involves Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Daniel Matz from Newmark representing the landlord.