A mezz on South Beach.

Carlton Advisory Services' Chairman Howard L. Michaels announced that Carlton executives Romano Tio and Marc Sznajderman have been retained by a prominent Florida developer to arrange approximately $80 million of senior and mezzanine financing to construct and redevelop South of 5th in South Beach.

The property, originally named Villa Luisa, currently contains three buildings that will be redeveloped into 28 luxury condominiums containing approximately 112,000 square feet.

South of 5th is located on the last available beachfront site in the South Beach section of Miami Beach, Florida.

The property will be the premiere exclusive project in South Beach due to the area's limited number of high end units and the property's unparalleled location, with direct beachfront access.

Carlton originally arranged $23.5 million of joint venture equity and debt financing for the acquisition of the three buildings.