Bank OZK & CanAm Enterprises Provide $72M Loan For Plantation Development Site

1711 North University Drive in Plantation has been acquired by Merrimac Ventures, represented by Dev and Nitin Motwani. The development site spans a total of 293,945 square feet and consists of 306 units. The transaction, which took place on May 27, 2021, involved a loan amount of $72,000,000 provided by Bank OZK and CanAm Enterprises, represented by Tom Rosenfeld. The brokers involved in the deal were David Harte and Jason Krane from The Ackman Ziff.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $72,000,000
• Address: 1711 North University Drive
• Market: Plantation
• Lender: Bank OZK and CanAm Enterprises - Tom Rosenfeld
• Landlord: Merrimac Ventures - Dev and Nitin Motwani
• Brokers: David Harte and Jason Krane - The Ackman Ziff
• Units: 306
• Square Footage: 293,945

The key individuals involved in this transaction include Tom Rosenfeld, representing Bank OZK and CanAm Enterprises as lenders. Dev and Nitin Motwani, representing Merrimac Ventures as landlords, successfully acquired the development site. The Ackman Ziff, represented by David Harte and Jason Krane, acted as the brokers in this deal.