Prospect Real Estate Group Secures $66M Construction Loan For Fort Lauderdale Multifamily Property

The 252-unit multifamily property located at 618 NE Third Avenue in Fort Lauderdale has been involved in a recent transaction. Spanning across 1.4 acres, this property has attracted attention from various parties in the real estate market.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $66,000,000
• Units: 252
• Acres: 1.4

Forum Capital Advisors, represented by Ross MacDonald, and Bank OZK provided a construction loan for this property. The loan amount of $66,000,000 will support the development of the multifamily asset.

Prospect Real Estate Group is the landlord of this property, indicating their involvement in the transaction as one of the key players. This deal showcases the collaboration between lenders and property owners in the real estate market.