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
Tavistock's Joe Lewis with  Pier Sixty-Six (Super Yacht Fan)
Tavistock’s long-planned Pier Sixty-Six condos hitting the market soon
Tavistock’s long-planned Pier Sixty-Six condos hitting the market soon
RK Centers’ Raanan Katz and Aimco's Wes Powell with the SW corner of Northeast Fifth Avenue and Northeast Ninth Street (LinkedIn, Google Maps)
Aimco completes $100M Flagler Village dev assemblage with latest $16M deal
Aimco completes $100M Flagler Village dev assemblage with latest $16M deal
Keiser University CEO Arthur Keiser in front of 1900 West Commercial Boulevard and 1500 Northwest 49th Street in Fort Lauderdale (Keiser University, Keenan Development Group, Getty Images)
Keiser University sells pair of Fort Lauderdale office properties for $58M
Keiser University sells pair of Fort Lauderdale office properties for $58M
Mark Post, CEO of Newport Beach, Calif.-based Javier’s Cantina with 1601 East Lake Drive in Ft. Lauderdale (Instagram via mark.javierscantina, Joy Triglia)
California restaurateur buys waterfront Fort Lauderdale mansion for $13M
California restaurateur buys waterfront Fort Lauderdale mansion for $13M
845 Northeast Fifth Terrace and two other unaddressed lots in Fort Lauderdale with Aimco's CEO Wes Powell (Google Maps, LinkedIn, Illustration by Priyanka Modi for The Real Deal with Getty)
Aimco adds to Flagler Village dev site set for 3M sf mixed-use project
Aimco adds to Flagler Village dev site set for 3M sf mixed-use project
Midtown's Alejandro Velez and Prospect Real Estate's Michele Zahn, and Richard Zahn Sr. with rendering of Advantis Station (Midtown Capital Partners, Prospect Real Estate Group, Baker Barrios)
Developers score $65M construction loan for Flagler Village apartments
Developers score $65M construction loan for Flagler Village apartments
7070 Northeast Third Avenue, Fort Lauderdale; Asana Partners' Terry Brown, Sam Judd and Jason Tompkins (Felipe Calderon, Asana Partners)
Asana buys office, industrial properties in Fort Lauderdale’s Flagler Village
Asana buys office, industrial properties in Fort Lauderdale’s Flagler Village
1600 Northeast 12th Terrace
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Triangle Services pays $17.5M for Fort Lauderdale industrial building
arrow_forward_ios

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

Loading...