Neology Life Development Group Secures $58M Build Loan for Miami Residential Tower

Miami, FL-based Neology Life Development Group has secured $57.5 million in construction financing for Fourteen Residences Allapattah, a two tower, 237-unit apartment community in Miami. The property is located in a Qualified Opportunity Zone in the Allapattah section of downtown Miami.

Charles Foschini, Chris Apone and Shannon Wilson of Berkadia arranged the financing. Churchill Real Estate’s direct originations platform originated the 24-month loan with two extension options.

Fourteen Allapattah Residences will sit at 1470 NW 36th Street and consists of a 14-story building with 180 apartment units connected via a pool deck to a five-story building with 57 apartments, including ground floor walk ups.

The propertyis five minutes west of Wynwood and 10 minutes east of the Miami International Airport. It is close to Miami’s health district and a short walk from the Allapattah Miami Metrorail Station.

 Neology’s portfolio now consists of more than 1,500 apartment units completed or under construction in Miami’s urban core.