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Melo Closes $95M Loan for Luxe Condo

MIAMI— Site development is already underway and vertical construction set to begin next month, with delivery slated for 2017.

By Jennifer LeClaire | Updated on August 20, 2015

MIAMI—Melo Group just closed a $95 million loan to fund the construction of Aria on the Bay. Miami-based Melo tapped Ocean Bank for the funds.

Aria on the Bay is a 647-unit luxury condominium under development at 1770 North Bayshore Drive in Downtown Miami’s Arts & Entertainment District. The 53-story Arquitectonica-designed tower’s bayfront location overlooking Margaret Pace Park with direct Biscayne Bay and the Miami Beach skyline views. Site development is already underway and vertical construction set to begin next month, with delivery slated for 2017.

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