Wood Partners breaks ground on Fort Lauderdale project with $58M loan

Wood Partners paid $12.4M for the 3-acre development site

TRD MIAMI /
Oct.October 11, 2016 10:30 AM

Atlanta-based Wood Partners closed on the land and financing to break ground on Harbor Park Apartments, a a 310-unit development near Port Everglades in Fort Lauderdale. 

Records show an affiliate of Wood Partners paid $12.4 million for the properties at 1919 Southeast 10th Avenue and closed on a $58.25 million construction loan from Chicago-based BMO Harris Bank for the project. Kast Construction Company filed a notice of commencement with the Broward County in late September.

Documents filed with the city in 2013 show the seller of the land, Harbor Park Warehouse LLC, planned an eight-story apartment building with a 620-space parking garage on the site. Falkanger Snyder Martineau & Yates designed those plans.

The seller is controlled by John T. Loos Jr. of Fort Lauderdale. The LLC paid $6.5 million for the four parcels in 2006, which total nearly 3 acres.

The project is also near the site of an 11-story, 645-space parking garage in the works that’s aimed at servicing Port Everglades visitors.

Wood Partners, a multifamily development and management firm, is also planning to build Midtown 8, a 28-story, 387-unit building in Miami’s Midtown neighborhood. That project, aimed at young professionals, is slated to break ground next year.


Related Articles

arrow_forward_ios
Mike Napoli and 2501 Delmar Place (Getty, Coldwell Banker)

He’s out: Baseball’s Mike Napoli sells waterfront Fort Lauderdale mansion for $7M

He’s out: Baseball’s Mike Napoli sells waterfront Fort Lauderdale mansion for $7M
4 West Las Olas

Fort Lauderdale developers score $92M bridge loan for rental tower

Fort Lauderdale developers score $92M bridge loan for rental tower
John Moran Jr. and 5 Isla Bahia Terrace, Fort Lauderdale

Warehousing CEO pays $8M for waterfront Fort Lauderdale house

Warehousing CEO pays $8M for waterfront Fort Lauderdale house
Kolter’s Bobby Julien and a rendering of the project (Kobi Karp)

Kolter wins approval for oceanside Fort Lauderdale condo development

Kolter wins approval for oceanside Fort Lauderdale condo development
Michael Wekerle & 1000 Riviera Isle Drive (Credit: Google Maps and Isaiah Trickey/FilmMagic via Getty Images)

Fort Lauderdale estate built for Anheuser-Busch CEO hits the market at $19M

Fort Lauderdale estate built for Anheuser-Busch CEO hits the market at $19M
Jared Galbut, Bodega Taqueria

Menin plans major expansion of Bodega Taqueria

Menin plans major expansion of Bodega Taqueria
100 Las Olas & Pietro Belmonte, Marc Brandt, Gigi Giusti

Douglas Elliman takes over sales of 100 Las Olas from OneWorld Properties

Douglas Elliman takes over sales of 100 Las Olas from OneWorld Properties
Dev Motwani & 317 North Federal Highway

Dev Motwani buys Fort Lauderdale dev site for $14M

Dev Motwani buys Fort Lauderdale dev site for $14M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...