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Aztec Group’s $52M Financing for Melo Group Mixed-Use is Pairing’s 14th Project
Aztec Group has arranged $52.2 million in debt financing for 25 Biscayne Park, a mixed-use development of 214 rental apartments and 21,959 square feet of office space and ground floor retail in Miami, FL. The property was developed by Melo Group, which owns additional mixed-use communities in the area.
25 Biscayne Park was Aztec Group’s third financing assignment with Melo in the last twelve months. The financing opportunity was awarded to Freddie Mac, and the 10-year loan features a fixed rate and is full-term interest only.
This most recent financing is the 14th loan that Peter Mekras, president of Aztec Group, has placed for Melo Group. In 2021, Mekras closed three loans for Melo Group totaling over $368 million and 1,557 units, including a $247.5-million loan for the Downtown 5th apartment building.
“25 Biscayne Park was located in an emerging location in 2012 when I originally financed the property for $32 million,” said Mekras.
- ◦Development
- ◦Financing
