Meyers Group scores $35M construction loan for Avery Dania Pointe

First phase consists of an eight-story, 264-unit luxury apartment complex

Miami /
Sep.September 25, 2018 01:30 PM

Rendering for Avery Dania Pointe

Meyers Group just scored a $35 million construction loan for the first phase of its Avery Dania Pointe rental complex within Kimco Realty Corp.’s 102-acre Dania Pointe mixed-use project.

Centennial Bank provided the financing. Alan Losada, EVP and COO of Meyers Group, arranged the deal, according to a press release.

The first phase, consisting of an eight-story, 264-unit luxury apartment, is underway on the northeast corner of I-95 and Stirling Road in Dania Beach. The second phase is slated to launch in the next two years and will bring an additional 336 units.

Avery Dania Pointe will offer one-, two-bedroom and two-bedroom plus den apartments ranging from 700 square feet to 1,250 square feet. Rents start in the $1,600’s. The first phase is slated to open the first quarter of 2020, according to a press release.

Designed by Miami architect Kobi Karp, the project will feature apartments equipped with keyless access, full-size washer and dryers, stainless steel appliances and double sinks in the master bath.

Rendering for Avery Dania Pointe pool

Amenities include a fitness center, an indoor and outdoor yoga studio, game room, fire pits, pool with cabanas and a private theater and pool with a deck and hot tub. The development also will include a dog wash, dog park, bicycle racks and a multi-level parking garage.

In total, Avery Dania Pointe will deliver 600 units within the Dania Pointe shopping and entertainment center, which has signed on major retailers like Brandsmart USA, Lucky’s Market and Ulta Beauty.

In August, Kimco secured $67 million in financing for the project. Dania Pointe will also include 500,000 square feet of office space and two Marriott-branded hotels, including the millennial-driven AC Hotel.


Related Articles

arrow_forward_ios
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Royal Palm Companies CEO Daniel Kodsi with renderings of the project (LinkedIn via Kodsi, Royal Palm Companies)
Royal Palm Cos. scores $65M construction loan for Dania Beach multifamily
Royal Palm Cos. scores $65M construction loan for Dania Beach multifamily
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
arrow_forward_ios

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

Loading...