FCI Residential scores $54M construction loan for Miramar apartment project

The new apartment community is approved for up to 300 units

Miami /
Jun.June 03, 2019 02:30 PM
Juan Porro, Managing Director of FCI Residential

Juan Porro, Managing Director of FCI Residential

FCI Residential scored a $54.1 million construction loan to build a new apartment community in Miramar.

The development arm of sugarcane giant Florida Crystals secured the construction loan from Regions Bank to build an apartment project called Catalina at Miramar. The project is approved for up to 300 apartments between Flamingo Road and Red Road just south of the Homestead Extension of the Florida Turnpike, records show.

FCI Residential has another completed apartment project, Atlantico at Miramar, next to the Catalina at Miramar.

In July 2018, FCI Residential paid $16.1 million for the 29-acre multifamily development site for Catalina at Miramar, property records show. The company bought the property from Ansin Group LTD, led by James Goggins, Andrew Ansin and Rodney Bacher.

FCI Residential was founded in 2012 by Florida Crystals and now owns more than 4,500 apartments across Southern Florida, according to its website.


Related Articles

arrow_forward_ios
Cortland CEO Steven DeFrancis and Indigo Station at 67 Southwest 12th Avenue (Cortland, Inigo Station)
Cortland buys Deerfield Beach multifamily complex for $66M
Cortland buys Deerfield Beach multifamily complex for $66M
Lynd CEO A. David Lynd and Lynd Acquisition Group President Constantine Scurtis with Parc Place Apartments at 17600 Northwest Fifth Avenue in Miami Gardens (Parc Place)
Lynd pays $41M for Miami Gardens apartments
Lynd pays $41M for Miami Gardens apartments
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
Hamilton on the Bay
Battle for their apartments: Hamilton on the Bay tenants in Miami’s Edgewater fight Aimco’s lease terminations
Battle for their apartments: Hamilton on the Bay tenants in Miami’s Edgewater fight Aimco’s lease terminations
Brookfield Property Group CEO Brian Kingston and  a rendering of 15800 Southwest 25th Street (Brookfield, Rendering courtesy of Newmark)
Brookfield buys Comcast-leased Miramar building for $29M
Brookfield buys Comcast-leased Miramar building for $29M
Ubiica’s Alejandro Salazar and Rodrigo Gana with 1533 Sunset Drive. (Google Maps)
Ubiica, Maven buy Coral Gables office building, parking lot for $9M
Ubiica, Maven buy Coral Gables office building, parking lot for $9M
Koby Assaraf and Dan Deitchman with renderings of the project (Kobi Karp Architecture & Interior Design, iStock)
Newrock, Brickbox score $68M construction loan for Oakland Park multifamily project
Newrock, Brickbox score $68M construction loan for Oakland Park multifamily project
American Land Ventures President Granvil Tracy and Isram Realty founder and chair Shaul Rikman with 630 East Woolbright Road (Google Maps)
American Land Ventures, Isram Realty score $85M construction loan for Boynton Beach apartments
American Land Ventures, Isram Realty score $85M construction loan for Boynton Beach apartments
arrow_forward_ios

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

Loading...