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3831 Northwest 13th Street

Updated Aug 6, 2026

Krea USA Secures $61.8 Million Construction Loan From Abanca Bank For Lauderhill Multifamily Development
FINANCEDDevelopment Site

Krea USA Secures $61.8 Million Construction Loan From Abanca Bank For Lauderhill Multifamily Development

3831 Northwest 13th Street

$61,800,000

Units

385

Asset Type

Development Site

Closing

Aug 5, 2026

About this deal

AI

A 10-acre development site located at 3831 Northwest 13th Street in Lauderhill, Florida, is involved in this transaction. Krea USA is developing the site into a 385-unit multifamily project named Le Parc at Lauderhill, with a secured construction loan of $61.8 million from Abanca Bank. Construction commenced in March and is anticipated to conclude next year, with the project benefiting from a $9.1 million, 10-year tax abatement despite the transition from workforce housing to market-rate apartments.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $61,800,000
  • Address: 3831 Northwest 13th Street
  • Market: Lauderhill, FL
  • Lender: Abanca Bank
  • Landlord: Mauricio Girault - Krea USA
  • Asset Size: 10 acres
  • Unit Count: 385 multifamily units
  • Loan Type: Construction
  • Tax Abatement: $9.1 million for 10 years

Mauricio Girault represents Krea USA in this transaction, emphasizing his role in overseeing the construction financing from Abanca Bank. The development is set to contribute significantly to the Lauderhill area, transitioning to market-rate apartments while navigating its tax advantage.

On the Map

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$61,800,000

Development Site

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Players

Abanca USA
Abanca USALender

Mauricio Girault

Krea USA

Landlord

$61.8M

vol

1 deal

Landlord
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Plantation Development Site Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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