Howard Taft Of Aztec Group Secures $87 Million Loan For Elevate Apartments In Dania Beach

The transaction involved Elevate Apartments, a multifamily property featuring 293 units situated on a 4-acre site at 600 East Dania Beach Boulevard in Dania Beach. The project, developed by Royal Palm Companies, is an 8-story building that includes units ranging from studios to three-bedroom apartments. A loan amounting to $87 million was secured for financing purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $87,000,000
• Units: 293
• Acres: 4
• Landlord: Dan Kodsi - Royal Palm Companies
• Broker: Howard Taft - Aztec Group
• Market: Dania Beach

Howard Taft from Aztec Group represented the interests of the lender, facilitating the bridge financing provided by a Dallas-based debt fund for the newly completed multifamily project. The financial support is aimed at bolstering the operational readiness of the property developed by Royal Palm Companies.