Pinnacle Secures $41.2M Loan For Affordable Seniors Housing In Miramar

The Pinnacle at La Cabana, a 110-unit affordable seniors housing development in Miramar, Broward County, has secured $41.2 million in financing. The project is a public-private partnership with the City of Miramar and is expected to be completed by mid-2025.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $41,200,000
• Lender: Bank of America, Florida Housing Finance Corporation - Michael DiNapoli, Neighborhood Lending Partners - Debra Reyes, City of Miramar, and United Way of Broward County
• Landlord: Pinnacle - Timothy Wheat

The financing for Pinnacle at La Cabana was secured through a collaboration of lenders, including Bank of America, Florida Housing Finance Corporation represented by Michael DiNapoli, Neighborhood Lending Partners represented by Debra Reyes, and the City of Miramar. The affordable seniors housing development will provide much-needed housing options for the senior community in Miramar and establish a strong relationship between public and private entities.