FORT LAUDERDALE, FLA. — New York-based Square Mile Capital Management LLC has provided two separate acquisition loans totaling $277.5 million for two downtown Fort Lauderdale multifamily properties: Las Olas Walk and 4 West Las Olas. Purvesh Gosalia of Newmark arranged the $174 million and $103.5 million loans on behalf of the buyer, Aventura, Fla.-based Cardone Capital.
Orlando-based ZOM Living developed and sold Las Olas Walk, and a partnership between NCC Development and Elevate Partners developed and sold 4 West Las Olas. Both properties were delivered in 2020.
Las Olas Walk is an eight-story, 456-unit multifamily building that offers studio, one-, two- and three-bedroom floor plans. Community amenities include a pet spa, coworking spaces, dockside marina lounge and grill, reserved parking, bike storage, outdoor gaming space, bark park, fitness center, electric car charging stations and an infinity edge pool. Located at 106 S. Federal Highway, the property is situated close to Morton’s The Steakhouse, Posh, Starbucks and the NSU Art Museum Fort Lauderdale.
4 West Las Olas is a 26-story, 260-unit multifamily building that offers studio, one-, two- and three-bedroom floor plans. The units feature open concept living rooms, quartz countertops, stainless steel appliances and full-size washers and dryers. Community amenities include a rooftop pool, sky clubroom, outdoor BBQ area, fitness center, yoga studio, dog park, pet space, garage parking, business center, coffee bar and a billiards speakeasy lounge. Located at 4 W Las Olas Blvd. Suite 126, the property is about one mile from the Las Olas Walk property and approximately four miles from Fort Lauderdale-Hollywood International Airport.