Melo Group Secures $75M Construction Loan For Development Site In Miami

A development site in Miami has been involved in a recent loan transaction. The property, located at 22, 30, 34 Southwest First Street, 35, 25 & 19 Southwest Second Street, spans approximately 0.6 acres. The loan, provided by Truist Bank, has a total amount of $75,000,000 and is categorized as a construction loan. The borrower, Melo Group, represented by Jose Luis Ferreira de Melo, Carlos & Martin Melo, will utilize the funds for the development of the site.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $75,000,000
• Address: 22, 30, 34 Southwest First Street, 35, 25 & 19 Southwest Second Street, Miami
• Market: Miami
• Loan Type: Construction

This loan transaction involves the Melo Group, represented by Jose Luis Ferreira de Melo, Carlos & Martin Melo, as the borrower. Truist Bank serves as the lender in this deal. The loan will enable the Melo Group to proceed with the development plans for the Miami property.