Housing Trust Group Secures $61.2M Loan For Hollywood Affordable Housing Development

Housing Trust Group (HTG) has secured $61.2 million in financing from the Florida Housing Finance Corporation for its affordable housing development in Hollywood, Florida. The project, named University Station, is located at 309 North 21st Avenue in downtown Hollywood. The development site spans 2.5 acres and will feature two eight-story buildings with a total of 216 apartments. The project will also include retail space and accommodations for the Barry University College of Nursing.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $61,200,000
• Address: 309 North 21st Avenue
• Market: Downtown Hollywood
• ACRES: 2.5

The lender in this transaction is the Florida Housing Finance Corporation. The landlord, representing Housing Trust Group, is Matthew Rieger. The loan obtained is a construction loan, allowing Housing Trust Group to proceed with the development of University Station.