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eology Development Group's Lissette Calderon has secured a new $84.5 million mortgage for The Julia Residences, a 14-story apartment building in Miami with 323 units. This refinancing replaces a previous $78.2 million construction loan and marks the second time in less than a month that one of Calderon's Allapattah projects has scored a refinancing. Apollo Asset Management provided the new financing, which follows a similar deal in May for Pier 19 Residences & Marina.

    The Julia is now 97% occupied, with units ranging from $2,300 to $3,848 per month. The project was completed in May and features one- and two-bedroom apartments. Neology Development Group paid $6.4 million for the site in 2019. This refinancing comes after a previous deal in which Starwood Property Trust provided a $63.5 million loan for Fourteen Main Street Residences, another multifamily project in Allapattah.

    Neology has been active in Miami's Allapattah neighborhood, completing its first multifamily project, No. 17 Residences, in 2021. The company is now planning a return to the Miami River with a new development site acquired for $32.2 million in 2023.