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Krea USA Nabs $62M Construction Loan for Lauderhill, Fla., Rental
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Commercial Observer
Krea USA nabbed a $61.8 million construction loan for a multifamily development in Lauderhill, Fla., property records show.
The financing from Abanca Bank covers the 385-unit Le Parc at Lauderhill development, at 3831 Northwest 13th Street, just east of the Lauderhill Mall and North State Road 7.
It was originally envisioned as a workforce housing development, with Vivian Dimond’s Bayshore Capital Grove as a partner.
Fast forward six years, the development will have no rental restrictions, and Krea USA bought out Bayshore Capital Grove’s stake, Akrisht Pandey, Krea USA’s director of real estate, told Commercial Observer.
A representative for Bayshore Capital Grove did not respond to requests for comment.