SWEETWATER, FLA. — Development firm CREI Holdings has received a $41 million loan for the refinancing of Li’l Abner II apartments in Sweetwater, a South Florida city just west of Miami. Marc Suarez led the Lument team that provided the funds. The project was completed in April 2023. Designed by Burgos Lanza Architects and Planners, an architectural firm based in Coral Gables, Fla., the eight-story building is situated adjacent to its 87-unit sibling, Li’l Abner I.
Li’l Abner II consists of 244 one- and two-bedroom units dedicated to affordable and workforce housing. Among these, 40 percent cater to low-income seniors, while the remainder is allocated to residents earning up to 120 percent of the area’s median income (AMI). The building is near full occupancy, according to CREI Holdings.