$85 MILLION CONSTRUCTION LOAN CLOSED FOR MIAMI DEVELOPMENT
MIAMI — Bilzin Sunberg Baena Price & Axelrod closed an $85 million construction loan for MBeach1’s redevelopment of 1111 Lincoln Rd. in Miami. Mellon United National Bank served as the loan’s lead arranger, with SunTrust Bank and KeyBank also participating. When completed, 11 11 will offer residential units, a bank, two restaurants and 40,000 square feet of retail space. The architecture firm Herzog & DeMeuron, responsible the main venue of the 2008 Summer Olympics, designed the building.