Fort Lauderdale Project Secures $66M

Rendering of Flagler Station. Image courtesy of Baker Barrios Architects Forum Capital Advisors, an affiliate…

Rendering of Flagler Station. Image courtesy of Baker Barrios Architects

Forum Capital Advisors, an affiliate of Denver-based Forum Investment Group, has secured financing for a Class A, 252-unit project in Fort Lauderdale, Fla. The company partnered with Bank OZK for the construction financing, totaling approximately $66 million in senior and subordinated debt.

Flagler Station will be a 12-story building expected to be completed in 2024. The multifamily property will include 252 units with floorplans averaging 757 square feet. Common-area amenities will include a swimming pool, outdoor kitchen, pet park and 2,087 square feet of ground-floor retail space.

The project will be in the Flagler Village neighborhood of Fort Lauderdale, close to Interstate 95, 5.6 miles from the University of Fort Lauderdale, 6 miles from Fort Lauderdale-Hollywood International Airport and close to multiple dining and retail options.

Year-to-date through April, developers delivered 3,256 units and $2 billion in multifamily assets traded across South Florida, according to a recent Yardi Matrix report. Central Fort Lauderdale is a big capital magnet, with $818 million in multifamily transactions closing in the submarket in the 12 months ending in April, the same source shows.

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