Ceiba Groupe nabs $46M loan for Downtown Davie project

Project calls for 201 apartments, 16K sf of commercial space
By Katherine Kallergis | June 25, 2019 10:30AM

Ceiba Groupe's Managing Principal Adam Bedzow and a rendering of Suede Downtown Davie

Ceiba Groupe’s Managing Principal Adam Bedzow and a rendering of Suede Downtown Davie

UPDATED, June 25, 6:43 p.m.: Ceiba Groupe closed on a $45.75 million construction loan for a mixed-use development in Davie.

Property records show Synovus Bank is the lender for 4th Ave Land Holdings LLC, an affiliate of Ceiba Groupe. The developer is planning to build Suede Downtown Davie with 201 apartments and about 16,000 square feet of retail, restaurant and office space on the property, according to a spokesperson.

The 3-acre site is between Southwest 38th and 39th Courts on the east side of Davie Road.

Fort Lauderdale-based Ceiba, led by managing principals Jeremy and Adam Bedzow, also has plans to develop the land just north of the property into the second phase of Downtown Davie, according to the company’s website.

The firm also has projects throughout Broward County, including ID Flagler Village, a townhouse development at 113 Northeast Sixth Street in Fort Lauderdale.

Davie, in west Broward, is home to a number of single-family homes and apartment communities. In December, Boardwalk Properties paid $119 million for a nearly 400-unit apartment complex at 6220 Reese Road in Davie.

Correction: An earlier version of this story incorrectly stated the number of apartments and square footage for the project based on information from the company’s website.