Senior Managing Director Charles Foschini, Managing Director Christopher Apone, and Associate Director Shannon Wilson of Berkadia Miami secured the financing on behalf of the sponsor Neology Development, an award-winning, lifestyle-driven real estate firm led by Lissette Calderon.
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Joseph Gallaher and Jeremy S. Larkin of NAI Miami | Fort Lauderdale represented the buyer in the transaction.
Roughly 50 percent of the retail space is pre-leased.
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Avalon Merrick Park offers a variety of floorplans ranging from studios, one-, two-, and three-bedroom apartments spanning from 456 to 1,530 square feet in size.
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The property consists of 0.86 acres with T6-80-0 zoning allowing a tremendous development opportunity for up to 800 residential units and 120 hotel rooms.
Scheduled to break ground in late 2025, Grover Corlew has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Boulevard and signed leases for more than 20,000 sq. ft. of office space with several big-name tenants.
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