January 6, 2020
JLL has arranged $127.5 million in financing for EON at Flagler Village, a two-phase, multifamily community in Fort Lauderdale’s Flagler Village neighborhood.
Brian Gaswirth and Reid Carleton of JLL secured the financing on behalf of the borrower, Alta Developers. Mack Real Estate Credit Strategies provided a three-year, floating-rate loan, which will be used to retire the existing construction loan on Phase I of the project and will fund Phase II.
Phase I was completed in May 2019, and consists of 206 residential units as well as 3,320 square feet of retail. Phase II is expected to be completed by Spring 2021, and will feature 270 residential units as well as 2,400 square feet of retail space.
For comments, questions or concerns, please contact David Cohen