FORT LAUDERDALE, FLA. — Berkadia has secured an $84 million construction bridge loan for the completion of Astor Park Flagler Village, a 252-unit luxury apartment community located at 333 N.E. 6th St. in Fort Lauderdale. Mitch Sinberg, Scott Wadler, Matt Robbins, Brad Williamson and Patrick Johnson of Berkadia arranged the loan through BridgeInvest on behalf of the developer, Midtown Capital Partners.
The borrower will use the floating-rate loan to refinance the property’s existing construction financing and fund remaining completion costs for Astor Park Flagler Village, which topped out in October and is expected to deliver this summer.
The 12-story development will offer floorplans ranging in size from 594-square-foot studios to 1,735-square-foot penthouses. Amenities will include a resort-style rooftop pool, bar and resident lounge, dog park, coworking space, 2,389 square feet of retail space on the ground level and a structured parking podium with 318 garage parking spaces.