Meyers Group & Accesso Partners Secure $88M Funding for Dania Beach Luxury Residences

A joint venture between The Meyers Group and Accesso Partners has secured an $88 million refinancing package for Avery Dania East, a luxury 336-unit community in Dania Beach, Florida. The deal was facilitated by BlackRock Realty Advisors, which provided an $80 million loan, complemented by an $8 million mezzanine loan. Northmarq arranged this three-year, interest-only refinancing agreement.

Previous Financing and Development

Initially, the property was financed with a $65.3 million construction loan from QuadReal Finance in December 2021. Avery Dania East is part of the larger Dania Pointe master-planned development, featuring extensive retail, hospitality, and office spaces, along with a multifamily component. The first phase of this component includes a 264-unit community.

Property Features and Amenities

Completed last year, the eight-story building offers one-, two-, and three-bedroom apartments ranging from 695 to 1,289 square feet. Each unit includes smart entry systems, washers, dryers, and private balconies or patios. The community boasts a variety of common-area amenities such as a three-story clubhouse with a swimming pool and cabanas, a spa with a waterfall, a fitness center, a theater, a lounge area with a catering kitchen, a game room, a business center, and EV charging stations.

Location and Accessibility

Situated on over three acres at 120 N. Compass Way, Avery Dania East is strategically located less than 4 miles from Fort Lauderdale-Hollywood International Airport and about 5 miles from Hollywood, Florida. Downtown Fort Lauderdale is approximately 7 miles away, enhancing the community's appeal for both commuters and residents seeking convenient access to urban amenities.

Market Context and Future Developments

According to Yardi Matrix, Fort Lauderdale is currently experiencing a surge in multifamily construction, with 41 projects of more than 50 units underway, which will add approximately 11,540 units to the housing supply. Additionally, there are 224 prospective projects in various planning stages. Recently, a joint venture between Fuse Group and Boca Paila secured $84.4 million for a 478-unit development near Fort Lauderdale, scheduled to open in 2026. BTI Partners also topped out a 362-unit property in downtown Hollywood, replacing an old office building from the 1990s.