AHS Residential scores $34M loan for apartment project near West Palm

The Miami-based development group is planning to build a 228-unit apartment complex

Miami /
Mar.March 27, 2020 09:45 AM
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scored a $34.4 million construction loan to build an apartment project near West Palm Beach.

AHS secured the loan from Citibank to build the 228-unit apartment complex, AHS at Banyan Ridge, at 7065 Banyan Leaf Drive, records show.

The property received a notice of commencement in February to begin construction.

AHS purchased the 10.4-acre property for $4.5 million in March 2019, records show. It sits right off the Florida Turnpike and Belvedere Road.

Miami-based AHS Residential was founded in 2012 by Ernesto Lopes and Rubens Menin Texeira de Souza to develop, build and manage multifamily properties, according to its website.

The company focuses on workforce housing and has developed Deering Groves, a 280-unit rental community in south Miami-Dade County. In October, AHS Residential sold a seven-story apartment complex in Dania Beach to a California-based trust for $38 million.


Related Articles

arrow_forward_ios
Landmark President Robert Saland and rendering of The City Place Apartments in Dania Beach
Landmark scores $33M in construction financing for Dania Beach project
Landmark scores $33M in construction financing for Dania Beach project
Savanna's Chris Schlank with rendering of Olara
Savanna launches condo sales at Olara in West Palm
Savanna launches condo sales at Olara in West Palm
Renderings of The Wynwood Plaza with L&L’s David Levinson and Robert Lapidus, Oak Row’s Erik Rutter and David Weitz, Marcelo Claure and Shorenstein’s Matt Knisely
Wynwood Plaza project scores $215M construction loan
Wynwood Plaza project scores $215M construction loan
A photo illustration of the 2468 Greengate Circle in West Palm Beach (top) and Suntree apartments at 4750 Cresthaven Boulevard in Palm Beach County (bottom) (Getty, Google Maps)
JV drops $40M for portfolio of aging Palm Beach County rentals
JV drops $40M for portfolio of aging Palm Beach County rentals
Related Companies' Stephen Ross with 515 Fern
Steve Ross scores approval for 515 Fern in downtown West Palm
Steve Ross scores approval for 515 Fern in downtown West Palm
From left: Len Blavatnik and Vlad Doronin along with a rendering of Aman Miami Beach at 3425 Collins Avenue (Getty, OKO Group, Access Industries)
Vlad Doronin, Len Blavatnik score $242M construction loan for Aman Miami Beach
Vlad Doronin, Len Blavatnik score $242M construction loan for Aman Miami Beach
Leandro Pereira, Bill Wenner and Michael Betancourt (Getty)
Movers & Shakers: NAI/Merin hires Matthew Brown as COO
Movers & Shakers: NAI/Merin hires Matthew Brown as COO
Billionaire developer John Catsimatidis along with a rendering of The Residences at 400 Central in St. Pete (Getty, Michael Saunders & Company)
Catsimatidis scores $252M construction loan for St. Pete condo tower
Catsimatidis scores $252M construction loan for St. Pete condo tower
arrow_forward_ios

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

Loading...