Rescore Property Corp Secures $82M Loan From Square Mile Capital Management For Fort Lauderdale Multifamily

405 Northeast 2nd Street, Fort Lauderdale, FL, USA & 405 Northeast 2nd Street, Fort Lauderdale, FL, USA

$82,000,000

$5,702/SF

Building Size

14,380 SF

Asset Type

MultiFamily

Closing

Oct 26, 2020

AI

An $82 million loan has been secured for a multifamily property located at 405 NE 2nd Street in Fort Lauderdale. The property consists of 348 units and is owned by Rescore Property Corp.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $82,000,000
Address: 405 NE 2nd Street
Market: Fort Lauderdale
Units: 348
Lender: Square Mile Capital Management - Craig Solomon
Landlord: Rescore Property Corp
Brokers: Eric McGlynn, alkerdunlop
Loan Terms: The floating rate loan includes a four-year term, allowing time for the property’s lease-up

The loan was provided by Square Mile Capital Management, with Craig Solomon representing the lender. Eric McGlynn from alkerdunlop served as the broker in the deal.

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