Hanover Co. Secures $135.35M Construction Loan From Sumitomo Mitsui Trust Bank For Hanover Riverwalk

Houston-based Hanover Co. has secured a construction loan of $135.35 million from Sumitomo Mitsui Trust Bank of Japan for Hanover Riverwalk, a multifamily property located at 477 Southwest First Avenue in Fort Lauderdale. The property spans 1.54 acres and consists of 380 units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $135,350,000
• Address: 477 Southwest First Avenue
• Market: Fort Lauderdale
• Units: 380
• Acres: 1.54

The lender for this construction loan is Sumitomo Mitsui Trust Bank, while the landlord is Hanover Co., represented by Brandt Bowden.

Hanover Riverwalk will feature various amenities, including retail space, fitness centers, a swimming pool deck, coworking space, and a courtyard with a café.