Stiles and Shorenstein score $204M in financing for The Main Las Olas

Mixed-use, two-tower project will include office, apartments, retail

Miami /
Nov.November 19, 2018 11:30 AM

Rendering of The Main Las Olas

The developers of The Main Las Olas in Fort Lauderdale just closed on two loans totaling nearly $204 million, property records show.

LO3 Investors LLC received a $118.3 million loan for 201 East Las Olas Boulevard and 212 Second Ave LLC secured an $85.6 million loan for 212 Southeast Second Avenue. Husky Finco LLC, an affiliate of Blackstone Mortgage Trust, a publicly traded real estate investment trust managed by the Blackstone Group, is the lender.

Stiles and Shorenstein Properties broke ground on the mixed-use office, residential and retail project in October. The developers are leasing the land from Broward College. The 2.7-acre project will include 357,000 square feet of Class A office space, a 341-unit apartment tower, restaurants and retail space.

The 25-story office tower is being designed by architect Cooper Carry, and will feature 12-foot floor-to-ceiling glass and 10-foot ceilings, an outdoor amenity deck on the 10th floor, a fitness center, a 5,400-square-foot outdoor plaza, and a 16,000-square-foot penthouse office suite. Stiles, which is handling office leasing for the development, announced that Akerman LLP, Berger Singerman LLP and BBX Capital are leasing a combined 85,000 square feet at the building.

The building, downtown Fort Lauderdale’s first new office tower in more than a decade, is expected to open in 2020, according to a release from October.

The 27-story residential building will have units ranging from 600 square feet to 1,400 square feet, an elevated pool deck, social lounges and co-working space, a rooftop terrace, indoor dog run and pet grooming spa, package lockers, and a gym. The project is about four blocks from Brightline’s Fort Lauderdale station.

Stiles declined to comment on the financing.


Related Articles

arrow_forward_ios
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
Brightline CEO Patrick Goddard with the Northwest Second Street development site (Goddard via LinkedIn, Google Maps)
New buyer aboard: Brightline parent sells sites near Fort Lauderdale station
New buyer aboard: Brightline parent sells sites near Fort Lauderdale station
Rendering of the project and the location for the development (Google Maps, Native Realty)
Former Fort Lauderdale church site to be reborn with offices, retail
Former Fort Lauderdale church site to be reborn with offices, retail
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
Yacht Haven Park & Marina in Fort Lauderdale sells for $58M
Yacht Haven Park & Marina in Fort Lauderdale sells for $58M
Yacht Haven Park & Marina in Fort Lauderdale sells for $58M
Alan Jay Wildstein and the waterfront house (Alan Jay Automotive Network, Elmes Group Waterfront Estates)
Car dealership mogul sells waterfront Fort Lauderdale home for $8M
Car dealership mogul sells waterfront Fort Lauderdale home for $8M
arrow_forward_ios

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

Loading...