The Real Deal Miami

Developer receives $36M for Boca Raton development site

Lennar recently purchased 2.08 acres along Southwest Eighth Street for $7.52 million
June 25, 2014 05:15PM

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.

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