Urbana Bueno Secures $38.5 Million Construction Loan From Nisu Mehta For Vida Edgewater Residences

The asset involved is a development site located at 410 Northeast 35th Terrace in Miami. The property will host the 138-unit Vida Edgewater Residences, featuring a nine-story condominium structure, ground-floor retail space, a rooftop restaurant, and amenities such as a pool and fitness center. Units in this development are expected to be priced from $603,000 to $2.3 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $38,500,000
• Lender: Nisu Mehta - Peachtree Group
• Landlord: Urbana Bueno
• Loan Type: Construction
• Set for Completion: 2026

Nisu Mehta, representing Peachtree Group, facilitated the $38.5 million construction financing secured by Urbana Bueno for this project. This transaction aims to enhance the Edgewater area with a residential offering complemented by retail spaces and various amenities for future residents.