Holland Trio Secure $95 Million Loan from Ocean Bank
Holland & Knight attorneys Joe Dewey, Elena Otero and Brett Holland helped arrange a $95 million construction loan for Melo Group's 53-story Aria on the Bay.
September 08, 2015 at 07:00 AM
5 minute read
Dealmakers: Joe Dewey, Elena Otero and Brett Holland
The Deal: The Holland & Knight team represented Ocean Bank in the issuance of a $95 million loan to developer Melo Group for construction of the 53-story Aria on the Bay luxury condo at 1770 N. Bayside Drive in Miami. The financing closed Aug. 19.
Details: In an atypical twist, Melo isn't sure it will need to draw down on the loan since it may be able to complete the project with its own equity and buyer deposits.
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