Office America Group And Avanti Way Group Secure $31.5M Loan For Lake Worth Beach Development Site

A joint venture between Office America Group and Avanti Way Group is set to break ground in the next three months on a 125-unit apartment property at 1715 North Dixie Highway in Lake Worth Beach, Florida. The development, located on a 2.3-acre site, will feature 8,000 square feet of office and retail space, as well as amenities such as a dog park, playground, and community gathering space. Completion of the project is expected by late next year and it is being financed with a loan amount of $31,500,000 from an unidentified New York company.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $31,500,000
• Address: 1715 North Dixie Highway
• Market: Lake Worth Beach
• Asset Type: Development Site
• Acres: 2.3
• Landlord: Office America Group - Ricardo Hernandez: Avanti Way Group - Enrique Teran

Office America Group, represented by Ricardo Hernandez, and Avanti Way Group, represented by Enrique Teran, are the key individuals and companies involved in this joint venture development. They are collaborating on the project's planning, financing, and construction, aiming to create a modern apartment complex that includes commercial spaces and recreational amenities. The financing for this development has been secured through a $31.5 million loan from a New York-based company, which remains unidentified.