A North Miami Beach developer has secured a $16.5 million construction loan for Koya Bay, a North Miami Beach luxury waterfront townhome community on the Intracoastal Waterway.

The loan was arranged on behalf of developer Alan Macken, principal of Macken Cos., by Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending, a Miami-based private lender. 

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