Freddie Mac Provides $142M Loan For 667-Unit Multifamily Property In Miami Arts District

A multifamily property located at 58 Northeast 14th Street in the Miami Arts & Entertainment District has been involved in a recent transaction. The property consists of 667 units and was subject to a loan from Freddie Mac.

Summary of transaction details

• Property Type: Multifamily
• Transaction Date: 12/12/2019
• Address: 58 Northeast 14th Street
• Market: Miami Arts & Entertainment District
• Lender: Freddie Mac
• Landlord: The Melo Group - Carlos Melo, Martin Melo, Jose Luis Melo
• Brokers: Peter Mekras - Aztec Group
• Loan Amount: $142,000,000
• Loan Terms: 10-year, fixed-rate, 3.5%
• Units: 667

The Melo Group, represented by Carlos Melo, Martin Melo, and Jose Luis Melo, acted as the landlord in this transaction. The loan was facilitated by Freddie Mac, and the brokering was handled by Peter Mekras from Aztec Group.