Sunday, May 15, 2016

HFF arranges $41 million financing for 259-unit multi-housing development in Davie, FL

Rendering of planned Parc3400 Apartments in Davie, FL
MIAMI, FL – May 10, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $41 million in construction financing for the development of Parc3400, a 259-unit, Class A multi-housing property in Davie, Florida.

HFF worked exclusively on behalf of the borrower, a joint venture between Giles Capital Group, Rosemurgy Properties and FSG Holdings, to place the construction loan with Mutual of Omaha Bank.  Park Partners Residential will manage and lease the asset.

Elliott Throne
Parc3400 will be situated near the southwest intersection of Interstate 595 and the Florida Turnpike on an eight-acre site at 3400 Davie Road.  The site is adjacent to Nova Southeastern University and is approximately 25 miles north of Miami in Broward County. 

Due for completion in summer 2017, the property will feature one-, two- and three-bedroom units with granite countertops, stainless steel appliances, modern lighting, walk-in closets, in-unit washers and dryers, ceiling fans, impact-resistant windows and sliding doors, and private balconies and patios. 

Common area amenities include a resort-style swimming pool, pavilion, clubhouse, 84 bicycle parking spaces and car charging stations. 

HFF’s debt placement team representing the borrower was led by managing director Elliott Throne.

“The South Florida-based developers are truly suited to understand the dynamics of this market, which will allow them to once again deliver a product that will provide local residents with a unique residential lifestyle option,” Throne stated.  “The pairing between the developers and lender was a natural fit given their success on a recently completed project in nearby Boca Raton.”

  For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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