Oasis Hallandale is also home to a commercial district with more than 59,000 square feet of retail and restaurant space, 35,000 square feet of office space and nearly 1,500 parking spaces.
The tenants will occupy a combined 7,400 square feet at the soon-to-be-completed mixed-use development.
The property is slated for completion in September, with tenants able to move into the property shortly thereafter.
Apartments at the project will be reserved for income-qualifying residents aged 62 and older who earn at or below 22, 25 and 60 percent of the area median income (AMI). Monthly rents will range $374 to $1,225.
University Station will provide 216 units of workforce housing, a 635-space parking garage, and a new home for Barry University College of Nursing and Health Services.
The team has closed over $25 billion in multifamily transactions.
Roberto Susi, Principal of Axiom Capital Partners, represented the buyers in the off-market deal.
Within 29 months of groundbreaking, Cymbal DLT paid off its $60.3 million construction loan to 3650 REIT and distributed to their equity investors over a 130% return.
The 223-acre project will feature 1.3 million square feet of retail and entertainment space, 4,000 luxury residential units, two hotels, and 1.35 million square feet of Class A office space.
“This asset is a unique rental loft unlike any other rental property, with high ceilings and an open layout, and excellent Opportunity Zone location,” said Williamson. “Berkadia was able to structure fixed-rate debt with full-term interest-only to mirror the sponsor’s business plan. The Forge Lofts are a great addition to this growing neighborhood.”
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