Broad Street Real Estate Credit Partners Provides $153.9M Loan For Fort Lauderdale Office

The redevelopment of the Las Olas Riverfront in Fort Lauderdale, Florida, secured a $153.9 million construction loan. The loan, provided by Broad Street Real Estate Credit Partners, facilitated the first phase of the mixed-use project led by New York-based Property Markets Group. The project involves the construction of a 36-story tower with 600 micro units and multi-bedroom suites along with shared amenities and waterfront public spaces.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $153,900,000.00
• Property Address: 300 SW 1st Ave, Fort Lauderdale, FL
• Market: Fort Lauderdale
• Borrower's Representative: Luis Flores(Saul Ewing Arnstein & Lehr)
• Lender: Broad Street Real Estate Credit Partners

Walker & Dunlop, along with SRF Ventures, played a key role in arranging the financing for the Las Olas Riverfront redevelopment project. Eric McGlynn, Kevin O’Grady, Daniel Sheehan, and Steven Fischler were involved in the financial arrangements. Additionally, the legal representation for the developer was handled by Lori Hartglass, Rebecca Sarelson, and Anthony Kang of Arnstein & Lehr LLP.