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BB&T Bank Provides $62.7M Loan For Mixed-Use Property In Miami's Arts & Entertainment District

1502 Northeast Miami Place
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This Mixed-use property located in FL received a loan of $62,700,000 almost 5 years ago.

Located in Miami’s Arts & Entertainment District, the mixed-use property at 1502 Northeast Miami Pl has recently undergone a closed transaction. The property boasts a total of 437 units and spans over 7,000 square feet. This transaction involved a loan from BB&T Bank totalling $62,700,000, indicating a significant investment in the property.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $62,700,000
  • Units: 437
  • Square Footage: 7,000
  • Address: 1502 Northeast Miami Pl
  • Market: Miami’s Arts & Entertainment District
  • City: Miami

Throughout this transaction, the Melo Group acted as the landlord. Carlos Melo and Martin Melo were involved in the deal, representing the Melo Group. Their expertise and involvement in the Miami real estate market add credibility to the transaction. BB&T Bank provided the loan for the property, highlighting the bank's willingness to invest in high-value real estate ventures.

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Deals
  • Location
    1502 Northeast Miami Place, Miami, FL 331321502 Northeast Miami Place, Miami, FL 33132
  • Loan Value
    $62,700,000$62,700,000
  • Asset Type
    Mixed-useMixed-use

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Deal Summary

LOAN IMAGE: Carlos Melo and Martin Melo DATE: 04/03/2019 ADDRESS: 1502 Northeast Miami Pl MARKET: Miami’s Arts & Entertainment District CITY: Miami ASSET TYPE: Mixed-use UNITS: 437 SF: 7,000 LENDER: BB&T Bank LANDLORD: Melo Group LOAN AMOUNT: $62,700,000

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