Moderno Development Group Secures $102M Construction Loan For Fort Lauderdale Multifamily Property

Moderno Development Group has secured a $102 million construction loan for a multifamily property in Fort Lauderdale. Located at 307 SW 5th St, the property consists of 352 units and spans a total of 253,594 square feet. The loan was provided by Square Mile Capital, enabling Moderno Development Group to proceed with the construction project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $102,000,000
• Units: 352
• Square Footage: 253,594
• Address: 307 SW 5th St
• Market: Fort Lauderdale

Peter Mekras of Aztec Group represented the borrower, Moderno Development Group, in the transaction. Doron Broman, the developer of Moderno Development, managed the deal on behalf of the company. This construction loan will facilitate the development of the multifamily property, contributing to the growth of Fort Lauderdale's real estate market.