Fort Lauderdale Developer Inks Financing for Condos, Apartments, Retail
Dependable Equities, an affiliate of Sky Equity Group, secured $54 million in pre-construction financing from CDK, with Valley National Bank serving as a participating lender to advance a residential development south of the New River, near downtown Fort Lauderdale.
The financing, arranged by Daryl Hagler and Allen Weinstein of CDK Capital, will support the planning and pre-development of two luxury high-rise communities located at 101 SE 7th Street and 633 SE 3rd Avenue. Together, the projects encompass nearly 2 million square feet of mixed-use development, including approximately 1,460 condominium and multifamily residences and roughly 14,000 square feet of ground-floor commercial space. Both projects were designed by architecture firm ODA, with construction anticipated to begin in early 2028.
With the addition of the developments at 101 SE 7th Street and 633 SE 3rd Avenue, Dependable Equities now has more than 2,200 residences in various stages of development in Fort Lauderdale.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout