- Posted by admin
- On March 14, 2013
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The apartment construction lending boom has reached the census-designated community of Naranja in southern Miami-Dade County.
Branch Banking & Trust Co. (NYSE: BBT) granted an $11 million mortgage to The Landings at Coral Town Park, managed by Carlos Herrera Jr. out of Miami Lakes, for a 13.2-acre site previously approved for 162 apartments. It is on the north side of Southwest 268th Street/Moody Drive just east of U.S. 1.
The Landings at Coral Town Park recently acquired the property for $3.04 million from Coral Town Park LLC, which was also managed by Herrera. Coral Town Park LLC retained 10.5 vacant acres next to the site that is being developed.