A subsidiary of Integra Investments, Hallandale Land Ventures LLP, landed $67.6 million in refinancing for Artsquare at Hallandale, a 358-unit community in Hallandale Beach, Fla. The 11-year Freddie Mac loan was arranged by Hunt Real Estate Capital.
The Class A property is spread across six residential buildings on a 2.7-acre site. Artsquare at Hallandale also includes 13,500 square feet of retail space.
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According to Hunt Real Estate Capital, the multifamily property has experienced significant demand since its completion in 2018 and has drawn working professionals and families from both Miami and Fort Lauderdale.
“Hallandale is a unique submarket located near the vibrant neighborhood of Aventura,” Marc Suarez, director at Hunt Real Estate Capital, told Multi-Housing News. “Surrounded by a variety of attractions, such as Gulfstream Park and a flourishing shopping scene, it is also conveniently located minutes away from the from Sunny Isles Beach and Hollywood Beach.”
Community amenities at the property include a swimming pool, a fitness center, dog wash station, club room, children’s room and a private theater. Retail tenants include Thousand Hills Coffee and fitness concept Orangetheory.
Hallandale is located about 20 miles north of downtown Miami and just over a mile from the oceanfront. The Miami multifamily market has remained healthy over the last quarter, bolstered by above-average job gains and a business-friendly climate, according to a recent Yardi Matrix report.