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S3 Capital provides $35M construction loan for Casa Princeton phase three
The third and final phase will add an eight-story, 162-unit building, with the broader 374-unit project progressing after phase two delivery in March 2026.
S3 Capital has arranged $35 million in construction financing for Aconcagua Group to complete the third and final phase of the Casa Princeton multifamily development in Miami-Dade County, Commercial Observer reports. The deal closed Friday morning, with the lender funding the final phase of the project in Princeton, Fla.
The phase three portion will include an eight-story building with 162 apartments, bringing the community to 374 units. Commercial Observer notes the second phase, which totals 150 units, was delivered in March 2026 and is roughly 40 percent leased, according to S3.
The apartment community at 12835 SW 246th Terrace is about 30 miles south of Downtown Miami and offers one- and two-bedroom floorplans. Amenities include a clubhouse, event space, co-working areas, swimming pool, fitness center, playground, and a dog park.
Berkadia negotiated the debt with a Miami-based team of Charles Foschini and Christopher Apone. In statements cited by Commercial Observer, S3 Capital executives linked the project to demand for attainable housing and highlighted a public-private partnership under the Live Local program as part of what makes the financing economically possible.