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$127 million loan secured for 502-unit Fort Lauderdale apartment complex

The Arcadian includes 151 attainable housing units for households earning 100% to 120% of area median income.

Reported · Written up by our desk · Residential

ConnectCRE reports that The Fuse Group and KREA Developments secured a $127 million construction take-out loan for The Arcadian, a recently delivered 502-unit multifamily community in Fort Lauderdale.

Berkadia arranged the financing for the joint venture, with Madison Realty Capital providing the loan.

The Arcadian is located at 640 NW 7th Avenue and features 502 studio, one- and two-bedroom apartments across two eight-story buildings.

ConnectCRE adds that 151 apartments are designated as attainable housing for qualified households earning between 100% and 120% of area median income, and the development also includes about 15,000 square feet of ground-floor commercial space.

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