AHS scores construction loan for rental community in south Miami-Dade

Plans are for a 281-unit rental community with 2,810 sf of retail

Oct.October 12, 2017 03:45 PM

Deering Groves rental community (Credit: AHS Residential)

An affiliate of Miami-based AHS Residential just scored a $27.4 million construction loan for its Deering Groves rental community in south Miami-Dade.

Records show the affiliate, Village at Tuscany LLC, scored the loan from Citibank. AHS bought the 9.3-acre plot of land on the southwest corner of Southwest 256th Street and Southwest 137th Avenue in 2014 for $2 million.

Deering Groves, in the Naranja area of Miami-Dade, will be designed by Chisholm Architects. The 281-unit rental community will house one-, two- and three- bedroom apartments, and will feature 2,810 square feet of retail, records show.

AHS plans to open the apartment community by May 2018, according to its website.

Ernesto Lopes, the company’s president and CEO, did not immediately respond to a request for comment.

The firm, founded in 2012, has its own in-house development, construction and management divisions.

AHS is also building a 175-unit apartment building near the Jackson South Community Hospital. Other projects include its Village at Lake Osborne, a garden-style development in Lake Worth, and its Village at Crystal Lake, a planned 125-unit rental community in Deerfield.

Related Articles

Brickell Flatiron and Ugo Colombo

Ugo Colombo pays off $236M construction loan for Brickell Flatiron

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Rendering of Sailboat Bend II

Affordable housing project in downtown Fort Lauderdale lands $27M loan

Rendering of the Edgewater Holiday Inn pool

Bank OZK lends $28M for Holiday Inn project in Edgewater

Rendering of SLS Resort Residence & Marina Hallandale Beach, Ari Pearl, Sam Nazarian and Faisal Ashraf

Ari Pearl lands $100M loan to build first phase of SLS project in Hallandale Beach

David Martin and the site at 2655 South Bayshore Drive (Credit: Realtor)

Terra closes on $185M construction loan for latest Coconut Grove project

Renderings of 400 Biscayne and Kevin Maloney 

Developers land $162M loan for downtown Miami co-living tower

Rendering of the Brickell hotel development, Tony Cho and Robert Finvarb

Finvarb and Cho land construction loan for mixed-use hotel near Brickell City Centre