Latitude Group Secures $27.9 Million Refinancing Loan For 22-Unit Multifamily Project In Fort Lauderdale

The asset involved in the transaction is a newly completed 22-unit condominium project, known as the Terraces, located at 527 Orton Avenue in Fort Lauderdale, Florida. The multifamily property received a refinancing loan amounting to $27.9 million from Edgewood Capital.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,900,000
• Address: 527 Orton Avenue
• Market: Fort Lauderdale, FL
• Units: 22
• Lender: Edgewood Capital
• Landlord: Latitude Group
• Brokers: Aj Felberbaum, Jay Miller, Spencer Miller & Noah Rothman - BayBridge Real Estate Capital

The refinancing secured by Latitude Group replaces a prior construction loan of $24.5 million obtained from Linkvest Capital in 2024. The deal involved the collaboration of brokers from BayBridge Real Estate Capital, who played a pivotal role in arranging this refinancing transaction.