Related Group Secures $230.8 Million Construction Loan From Athene Annuity For Andare Residences

The asset involved in this transaction is a development site located at 521 East Las Olas Boulevard in Fort Lauderdale. The total loan amount secured is $230,800,000, designated for construction purposes. This site is currently under construction for Andare Residences, which will comprise a 46-story tower with 163 luxury condo units and is over 50% presold. The project is designed by Pininfarina and is part of an expanding array of premium condominium developments in South Florida.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $230,800,000
• Lender: James Belardi - Athene Annuity and Life Company
• Landlord: Jorge, Jon Paul & Nick Perez - Related Group
• Address: 521 East Las Olas Boulevard
• Market: Fort Lauderdale
• Loan Type: Construction

This transaction involves key individuals including James Belardi, representing the lender Athene Annuity and Life Company, and Jorge, Jon Paul, and Nick Perez, representing the Related Group. Their collaboration is focused on the development of a high-end residential project, enhancing the luxury living landscape in South Florida.