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Melo Group closes $142M loan to refinance Florida apartments

Miami-based developer The Melo Group LLC secured refinancing worth $142 million for its two-tower, 710-unit Square Station apartment project in Miami's Arts & Entertainment District, The Real Deal reported.

Freddie Mac will provide the 10-year, fixed-rate loan, according to the report.

The 95%-leased Square Station at 1424 Northeast Miami Place also offers roughly 20,000 square feet of commercial space.