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
Celebration Pointe (Garco)

Island Capital affiliate pays $64M for Margate apartments

Island Capital affiliate pays $64M for Margate apartments
Renderings of Wave 70 and Wave 90

Dania Beach approves 760-unit apartment complex next to Dania Pointe

Dania Beach approves 760-unit apartment complex next to Dania Pointe
AHS Residential CEO Ernesto Lopes and AEW Global CEO Jeff Furber with 13700 Southwest 256th Street (Google Maps)

Alphabet soup: AEW pays AHS $57M for Homestead apartments

Alphabet soup: AEW pays AHS $57M for Homestead apartments
Cortland Partners CEO Steven DeFrancis and 1900 to 2300 North 29th Avenue, Hollywood (Google Maps)

Cortland pays $92M for Hollywood apartment complex

Cortland pays $92M for Hollywood apartment complex
Investcorp co- CEOs Hazem Ben-Gacem and Rishi Kapoor, Ventures CEO Tom Scott and 135 Northwest 20th Street in Boca Raton (Investcorp; Ventures; Google Maps)

CA Ventures buys Boca Raton apartment complex for $80M

CA Ventures buys Boca Raton apartment complex for $80M
Laurent Morali and Charles Kushner (iStock)

Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects

Kushner buying sites near Delray Beach, Lake Worth for industrial and mixed-use projects
Rendering of The Linton and Craig Menin

Menin Development wins initial approval for redevelopment of Delray Beach shopping center

Menin Development wins initial approval for redevelopment of Delray Beach shopping center
Midtown Five with (from top) Magellan CEO David Carlins, Sterling Equities' Fred Wilpon and Saul KatzĀ 

Magellan sells Midtown Miami apartments for $154M

Magellan sells Midtown Miami apartments for $154M
arrow_forward_ios

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

Loading...