Funding Round attributes
Neology Development Group (NDG), a lifestyle-driven, vertically integrated residential and commercial real estate firm, has secured an $84.5 million permanent loan from affiliates of Apollo Global Management (NYSE: APO) for The Julia Residences, situated in Miami's Allapattah neighborhood.
The Julia Residences, a $140 million, 14-story residential tower named in honor of Miami's founder, Julia Tuttle, obtained its Temporary Certificate of Occupancy (TCO) in May 2024. By October 2024, the property achieved lease-up stabilization with a 97% occupancy rate, highlighting its strong market appeal. The development comprises 323 apartments, exceptional amenities, and 13,000 square feet of street-level retail space.
Each apartment in The Julia is designed for modern luxury and comfort, featuring floor-to-ceiling windows, 9–12-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 .
The Julia embodies a "tropics-meets-urbanism" aesthetic, incorporating tropical elements into the city environment, highlighted by murals painted by local Miami artist Carlos Navarro. The development offers thoughtfully designed programming, including pool parties, yoga classes, wine mixers, pet costume contests, and sports watch parties, fostering a vibrant sense of community for residents and prospective tenants.
Located at 1625 NW 20th Street, The Julia provides residents with convenient walking access to the Civic Center Metrorail Station, Jackson Memorial Hospital, the University of Miami Health System, and Miami-Dade College Medical Center. The location is also 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 Development Group's current ownership portfolio consists of over 1,000 apartments completed, owned, and managed in Miami's urban core, with another 1,350 units in the permitting or predevelopment phase, and a pipeline of 3,155 additional units in South Florida. The firm has also built and sold over 2,000 condominium units.
This financing underscores Neology's ability to execute its business plan and secure funding to support its projects, reinforcing the company's commitment to delivering high-quality, attainable urban living spaces in South Florida
