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Neology Development Group (NDG), a lifestyle-driven, vertically integrated residential and commercial real estate firm, has announced the closing of a $84.5 million loan from affiliates of Apollo for The Julia Residences, located in Miami’s vibrant Allapattah neighborhood.
The Julia Residences obtained its TCO in May 2024 and achieved lease-up stabilization five months later in October 2024 with a 97 percent occupancy rate, underscoring the property’s strong appeal and market demand. This $140 million, 14-story residential tower, named in honor of Miami’s trailblazing founder, Julia Tuttle, features 323 apartments, exceptional amenities, and 13,000 square feet of street-level retail space.
“Neology Development Group has been a dedicated developer and manager of residential complexes throughout the Allapattah neighborhood of Miami,” said Catherine Chen, managing director at Apollo. “We look forward to the continued relationship as they continue to bring their strategic vision to the community.”
The permanent loan underscores Neology’s ability to execute on its business plan and secure financing to support its projects.
“The procurement of this loan reinforces Neology’s financial strength and commitment to delivering high-quality, attainable urban living spaces accessible to working professionals and families in South Florida,” said Lissette M. Calderon, founder and CEO of Neology Development Group. “Closing our second refinance deal in less than 30 days is a true testament to our financial acumen and strength.”
Each apartment in The Julia is designed for modern luxury and comfort, featuring floor-to-ceiling windows, 9- to 12-foot ceilings, walk-in closets in every bedroom, French-door refrigerators, energy- efficient stainless-steel appliances, quartz countertops, European-inspired kitchen cabinetry, and in- unit washer and dryers. Balconies in every unit offer sweeping views of the Miami skyline, Miami Beach and Coral Gables.
The Julia embodies a “tropics-meets-urbanism” aesthetic, infusing tropical elements into city environment, highlighted by murals painted by Miami artist Carlos Navarro. With its bold colors, open-air spaces, NDG curates a thoughtfully designed programming that includes pool parties, yoga classes, wine mixers, pet costume contests, and sport watch parties. These engaging initiatives foster a vibrant sense of community for both residents and prospective tenants that goes beyond just residency.
Located at 1625 NW 20 St., just blocks west of the main entrance to Jackson Memorial Hospital and the new Transplant Institute,The Julia offers residents convenient walking access to the UHealth/Jackson Metrorail Station, Jackson Memorial Hospital, the University of Miami Health System, and Miami-Dade College Medical Center. The location also is a short distance from Brickell and Downtown, home to major employers, dining, shopping, and popular attractions such as Marlins Park, Kaseya Center, and the Adrienne Arsht Center for the Performing Arts.
Neology’s current ownership portfolio consists of over 1,000 apartments completed, owned, and managed in Miami’s urban core, another 1,350 units in the permitting or predevelopment phase, and a pipeline of 3,155 additional units in South Florida, in addition to building and selling over 2,000 condominium units.
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