David Arditi And Nitin Motwani Secure $95M Construction Loan For Miami Development Site

A construction loan has been secured for a development site located at 601 Northeast 1st Avenue in Miami. Spanning over 27 acres, the site has a buildable square footage (BSF) of 50,000. The loan amount obtained for this project is $95,000,000 and it has been provided by Banco Inbursa.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $95,000,000
• Address: 601 Northeast 1st Avenue
• Market: Miami
• BSF: 50,000
• Acres: 27

Nitin Motwani of Merrimac Ventures and David Arditi of Aria Development Group are the landlords involved in this transaction. Represented by their brokers Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Daniel Matz, and Holden Witkoff from Newmark, as well as Joseph Hernandez, Salomé Bascuñan, and Anthony De Yurre from Bilzin Sumberg LLP, the deal showcases their active participation in the project