Argentine Developer Buys Another Miami Property

» Done Deals | By WPC Deals Team | March 15, 2013 9:26 AM ET

The Melo Group of Argentina has purchased land in downtown Miami, across the street from the site where the Genting Group wants to build a casino and hotel complex.

Melo paid $9.5 million for the 43,312-square-foot parcel, the South Florida Business Journal reports. The company plans to build a hotel and residential complex on the site, which neighbors the Adrienne Arsht Center for the Performing Arts, according to the Business Journal.

Melo built five projects in Miami last year, with a total of 800 apartments.

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