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Astor Scores $32M Construction Loan for Miami Multifamily

Astor Companies founder Henry Torres and a rendering of the Douglas Enclave (The Astor Companies)
The Astor Companies scored a $32.4 million construction loan for its planned mixed-income, multifamily project near Miami’s Flagler Street.
Coral Gables-based Astor, led by founder Henry Torres, is developing the 10-story, 199-unit Douglas Enclave at 61 Northwest 37th Avenue. Ocean Bank issued the loan, according to records.
Astor plans to start construction this spring on the property, which spans a 1.1-acre full city block between Flagler and Northwest First streets along Northwest 37th Avenue, according to the company’s website.
Astor, through an affiliate, bought the six-lot property in July 2017 for $5.1 million, a deed shows. ....

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FCP Provides $8.6 Million Preferred Equity Investment in Eden West Apartment Community Located in Broward County, Florida

FCP Provides $8.6 Million Preferred Equity Investment in Eden West Apartment Community Located in Broward County, Florida
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FCP Provides $8.6 Million Preferred Equity Investment In Eden West Apartments Located In Broward County, FL

FCP
® announces the closing of $8.6 million in preferred equity for the development of Eden West Apartments, a 212-unit multifamily development in the city of Tamarac in Broward County, FL. The project is a joint venture between developers Eden Multifamily (Eden) and Cypress Equity Investments (CEI). The investment marks FCP s 15th in Florida.
FCP is excited to be working with top-notch developers, Eden Multifamily and Cypress Equity Investments, on Eden West, said FCP Vice President
Bruce Gago, who heads the firm s Florida office. Gago continued, This location not only offers residents access to exciting new amenities at urban destinations, Metropica and Plantation Walk, but we will be able to provide convenient surface parking at an attractive cost basis, a rarity in Broward County. ....

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