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South Florida

Developer receives $36M for Boca Raton development site

Lennar's Boca Raton development site
Lennar's Boca Raton development site

An affiliate of Lennar Corp. has secured a $36.2 million mortgage from Wells Fargo for a Boca Raton apartment project.

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Recently, the Miami-based developer purchased 2.08 acres along Southwest Eighth Street, just west of Federal Highway for $7.52 million, according to the South Florida Business Journal. Now the developer is planning to build 229 apartments on the site.

Wells Fargo issued the loan to a Lennar affiliate dubbed LMC/USPF Boca City Walk Owner. [SFBJ] – Christopher Cameron

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BanksBoca Raton