Diego Ojeda Of Rilea Group Secures $90 Million Construction Loan From Banco Inbursa In Miami

The property asset involved is a mixed-use development located at 100 Northeast 29th Street in Miami. This asset comprises 146 units and spans a total area of 144,241 square feet. The financing secured for this project amounts to $90,000,000 from Banco Inbursa, under a construction loan type with a term of 5 years.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $90,000,000
• Asset Address: 100 Northeast 29th Street
• Market: Miami
• Units: 146
• Square Footage: 144,241
• Lender: Banco Inbursa
• Landlord: Diego Ojeda - Rilea Group
• Broker: Javier Herrera - Franklin Street

This transaction marks a significant achievement for the joint venture between Ciprés and Rilea Group as they secure Ciprés' first construction loan for The Rider Residences in Wynwood, where an integration of rock-and-roll and high fashion is envisioned at the intersection of Wynwood & Midtown.