Fuse Group and KREA Developments, the U.S. subsidiary of Grupo KREA, have secured a $127 million construction take-out loan for a 502-unit multifamily community, recently delivered community in Fort Lauderdale, Fla.
Madison Realty Capital issued the note in a deal arranged by Berkadia.
Proceeds will refinance existing debt and provide capital in support of lease-up and stabilization strategies at the property. The Arcadian initially became subject to an $84.5 million construction loan issued by Centennial Bank in 2024. Fort Lauderdale Community Redevelopment Agency also provided a $10 million contribution.
Fuse Group developed The Arcadian under Florida’s Live Local Act. Therefore, the property has 151 attainable housing units catering to households earning between 100 percent and 120 percent of the area median income, representing one of the largest such allocation in Broward County.
The Arcadian came online in January. South Pointe Construction and Development Co. served as general contractor and Behar Font & Partners as architect of record.
The community includes two buildings rising eight stories each. It is located at 640 NW Seventh Ave., within the city’s historic Sistrunk District, where Fuse Group has been actively pursuing redevelopment opportunities for the past several years.
Occupying 4 acres between Flagler Village and the city’s downtown, the property is in an area with multiple dining, retail and entertainment venues. Fort Lauderdale-Hollywood International Airport is 6 miles away.
The Arcadian includes studio, one- and two-bedroom floorplans ranging from 482 to 1,098 square feet. All apartments include stainless-steel appliances, floor-to-ceiling windows, wood-style flooring, in-unit washer and dryers as well as smart-home features.
Common-area amenities consist of two swimming pools with pool decks, cabanas, lounge seating and outdoor kitchens, but also a movie theater, a fitness center, a spa center, a dual golf simulator, a clubhouse, coworking spaces with private offices and conference rooms, a courtyard with a meditation area and grilling stations.
The pet-friendly, gated community also includes 15,000 square feet of ground-floor retail space, 20 EV charging stations and a parking garage with 629 spaces. Additionally, the property features Fort Lauderdale’s and Broward County’s first indoor pickleball court and a pedestrian-friendly paseo, along with a curated art installation displayed on the east and west facades of the parking garages.
