Integra scores $68M refi for Artsquare at Hallandale Beach

Artsquare totals six buildings and 358 units

Dec.December 11, 2019 05:30 PM
Integra Investments’s Victor Ballestas and  Artsquare at Hallandale Beach

Integra Investments’s Victor Ballestas and Artsquare at Hallandale Beach

One of Hallandale Beach’s largest apartment complexes scored a $67.6 million loan.

Integra Investments secured the refinancing for Artsquare at Hallandale Beach from Hunt Real Estate Capital. Artsquare is a 358-unit, Class-A project at 401 North Federal Highway that was completed in 2018. The project has six buildings and sits on a 2.7-acre parcel.

In addition, the property features six commercial spaces that total 13,500 square feet in space. Two of the spaces are leased to Thousand Hills Coffee and Orange Theory.

Amenities at the project include a swimming pool, fitness center, yoga/spin studio, a dog wash station, club room and private theater.

Integra Investments paid $8.5 million for the 7.5-acre site in 2014, property records show.

Integra, led by Victor Ballestas, is also partnering with Key International to build Boca Beach House, a boutique luxury condo development in Boca Raton . In 2018, Integra completed its $300 million Aventura ParkSquare, a 1.2-million-square-foot mixed-use project at 2920 Northeast 207th Street.

Development is booming in Hallandale Beach. Taplin Development Corp., led by Jack Taplin, is planning to build 320 apartments and a 120-key hotel with a retail component across from Gulfstream Park at 900 South Federal Highway in Hallandale.

Also in Hallandale, New York City-based KAR Properties is building a 38-story, 64-unit luxury condo project called 2000 Ocean.

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