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600 East Dania Beach Boulevard

Updated Mar 17, 2025

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

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

600 East Dania Beach Boulevard

$87,000,000

Units

293

Asset Type

MultiFamily

Closing

Mar 16, 2025

About this deal

AI

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.

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$87,000,000

MultiFamily

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Players

Howard Taft

Aztec Group

Broker

$236.2M

vol

8 deals

Broker

Dan Kodsi

Royal Palm Companies

Landlord

$1B

vol

13 deals

Landlord
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Dania MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $296.9K per unit across 293 units on a published $87M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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