Miami’s Latin Q Tower taken in deed-in-lieu

David Arditi’s Cardinal Development has seized the Latin Q Tower in downtown Miami, the South Florida Business Journal reported. Arditi had purchased the loan on the property last year from Banco Popular North America, which had made the initial loan to a limited liability company called Latin Q Tower. The Little Havana property went to Arditi in an $11.9 million deed-in-lieu. It’s the latest high-profile transaction in the neighborhood, following the $25 million purchase of Inter-American Plaza by Miami-Dade College in June. [SFBJ] — Alexander Britell