The Real Deal Miami

Merco facing another foreclosure in Kendall

May 20, 2011 05:50PM

Miami Beach’s Merco Group is facing foreclosure at its 267-unit Tree Top Apartments in Kendall. The company, whose principal, Mellinda Meruelo, manages the borrower on the defaulted loan, has lost a number of projects to foreclosure in the years since the real estate crash, including Coconut Grove’s Grand Bay hotel and Miami Beach’s NoBe Bay condominium. Earlier this month, Fannie Mae filed the latest foreclosure lawsuit, which references a $12 million mortgage granted in 2000 for the 283,695-square-foot complex at 8520 S.W. 107th Avenue. [SFBJ]