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.


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