Bank OZK Provides $80.9M Construction Loan For Downtown Miami Multifamily By Aria Development

The property involved in this transaction is a multifamily asset located at 501 NE 1st Avenue in Downtown Miami. The property comprises 448 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $80,924,000
• Address: 501 NE 1st Avenue, Downtown Miami
• Market: Downtown Miami
• Lender: Bank OZK
• Landlord: David Arditi & Marco Ziff - Aria Development

The loan for this transaction was provided by Bank OZK. The landlords involved in the deal are David Arditi and Marco Ziff, representing Aria Development. The brokers involved in the transaction are Scott Wadler, Matthew Nihan, and Michael Basinski, who represent Berkadia.