Pinnacle Secures Financing for Fort Lauderdale Affordable Sr. Housing
Pinnacle secured $40.2 million in financing to develop a new mixed-use, affordable senior housing community in Fort Lauderdale. The financing will support Pinnacle at Cypress Phase I, the first of a two-phase development that will combine senior housing with ground-floor commercial space.
Located at 6520 North Andrews Avenue in Fort Lauderdale, Pinnacle at Cypress Phase I is the first phase of a two-phase mixed-use, affordable housing development. The development will feature 100 one-bedroom apartments along with 6,525 square feet of ground-floor commercial space. Phase II will also include 100 senior housing units, with a mix of studio and one-bedroom apartments to complement the housing offered in Phase I. Phase II will break ground in the spring of 2027.
Financing was provided by Bank of America, JPMorgan Chase and a handful of public agencies.
The community will serve seniors earning 22%, 33% and 60% of the Area Median Income (AMI).
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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