Luxury FL Asset Lands $35M Construction Loan
Centennial Bank provided financing for Meyers Group to construct a 600-unit property in Dania Beach, part of the larger Dania Pointe development.
Meyers Group has closed on a $35 million construction loan for Avery Dania Pointe, a 600-unit development in Dania Beach, Fla. Centennial Bank provided financing for the development. Alan Losada, executive vice president & COO of Meyers Group, closed the deal.
“Receiving this construction loan from Centennial Bank is a significant milestone in the development of Avery Dania Pointe,” said Stuart I. Meyers, Chairman & CEO of Meyers Group, in prepared remarks. “Dania Pointe is playing a major role in the resurgence of Dania Beach and we are excited to have a part in it.”
Avery Dania Pointe is part of the Dania Pointe development, a 102-acre mixed-use development in Dania Beach. The unit mix includes one-, two- and two-bedroom plus den apartments ranging from 700 to 1,250 square feet, with prices starting in the $1,600s. Amenities at the building will include:
- fitness center
- indoor and outdoor yoga studio
- game room
- fire pits
- swimming pool
- business center
- private theater
- dog park
Phase one of Avery Dania Pointe, which will include 264 rental apartments, is expected to open in the first quarter of 2020. Construction of phase two is expected to launch over the next two years and will include an additional 336 units.
Images courtesy of Meyers Group