Apollo Organizations and Liberty Base Investments secured $55.6 million in construction financing for the first phase of their 101 Dania Beach front blended-use project.
Israel Low cost Financial institution furnished the bank loan to the joint venture, documents exhibit. 101 Dania Beach’s very first stage is a prepared 12-story constructing with 278 flats, a cafe and 449 parking spaces.
In May possibly of very last year, Apollo and Liberty Base — each based in Aventura — filed a see of commencement with Broward County for the 1.9-acre development web-site at 101 Southwest To start with Avenue in Dania Beach. In 2022, the Dania Seaside Town Fee accredited the web-site program for the initially phase.
The joint venture assembled 9 parcels that make up the advancement site for $2.6 million involving 2021 and 2022, data demonstrate.
In August of last yr, Apollo and Liberty Base scored an additional web-site strategy acceptance for 101 Dania Beach’s second period at 46 Southwest To start with Avenue. The prepared second 12-story constructing will have 102 apartments, which include some floor-ground dwell-do the job units, a floor-flooring retail space and 22,000 square ft of business office place. A pedestrian bridge will join the to start with and 2nd phases.
Both properties, developed by Miami-centered Caymares Martin, will characteristic a combine of studios, 1-, two- and three-bedroom residences.
Apollo, led by CEO Edward Abbo, made Turnberry Plaza office building in Aventura, the Hilton Aventura Miami lodge, the Courtyard Fort Lauderdale Downtown resort and Quantum Flats in Fort Lauderdale, in accordance to the firm’s web page.
In October, Apollo and the town of Doral achieved a compromise for a planned mixed-use challenge the company is developing making use of the Stay Local Act. The condition regulation will allow builders to bypass public hearings for condominium developments that established aside 40 p.c of the units for workforce housing.
Apollo is setting up Oasis at Doral, a complicated of 7 8-story structures on an 18-acre internet site that will entail numerous hundred units and retail place that would consist of foods and beverage stores. Two present office structures would keep on being intact.
Led by principal Leon Ojalvo, Liberty Foundation is a multifamily-targeted authentic estate financial commitment business. The organization owns Blue Village Apartments in Miami Shores. It paid out $15 million in 2021 for the 106-device rental community.
