Treo Group Secures $53M Construction Loan For Vox Miami Student Housing

The Vox Miami complex, located at 5949 SW 72nd Street in South Miami, has secured a $53 million construction loan for its development. The loan was provided by FirstBank Puerto Rico and Abanca, with $29 million coming from FirstBank Puerto Rico and $24 million from Abanca. The student housing development will comprise 163 units with 400 beds and include 13,000 square feet of retail space.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $53,000,000
• Address: 5949 Southwest 72nd Street
• Market: South Miami
• Lender: FirstBank Puerto Rico & Abanca
• Landlord: Eduardo Garcia - Treo Group
• Loan Type: Construction Loan

Treo Group, represented by Eduardo Garcia of Treo Group, secured the $53 million construction loan for the Vox Miami complex near the South Miami Metrorail Station. This 13-story development is set to offer student housing with 163 units and 400 beds, along with 13,000 square feet of retail space. The financing for the project includes $29 million from FirstBank Puerto Rico and $24 million from Abanca.