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| 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.
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| 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 | www.hfflp.com
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