Celiba Groupe Opens North Miami SFR Community

First Horizon Bank provided the developer with a $31 million loan in 2021 for the construction of the luxury property.

ID Oakland Park
ID Oakland Park occupies almost 7 acres. Image courtesy of Ceiba Groupe

Ceiba Groupe has opened ID Oakland Park, a 106-unit luxury build-to-rent townhome community in Oakland Park, Fla. Willow Bridge Property Co. will manage the Diaz + Lang Architects-designed community.

In 2021, the developer took out a $31 million construction loan from First Horizon Bank for the project, according to Yardi Matrix data. Ceiba acquired the vacant, 6.6-acre site in 2016 for $3.1 million.

The community comprises three- and four-bedroom floorplans, ranging from 1,459 to 1,916 square feet. Residences feature 10-foot ceilings, in-unit washers and dryers, as well as private backyards and patios. Common-area amenities include a fitness center, clubhouse, swimming pool and dog park.

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Located at 1001 NE 58th St., the community is some 4 miles from Pompano Beach, Fla., and roughly 6 miles north of Fort Lauderdale, Fla. ID Oakland Park is also 3 miles from the Lauderdale-by-the-Sea Beach and less than a mile from Northridge Shopping Center.

SFR properties continue to be in high demand across the country. Nationally, single-family rental rates rose $9 in March to $2,144, accounting for a 1.2 percent year-over-year increase, according to a recent Yardi Matrix report. In February, occupancy rates declined slightly, decreasing by 10 basis points, but remaining at a strong 95.3 percent.

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