{"id":240891,"date":"2026-04-21T21:00:08","date_gmt":"2026-04-21T21:00:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/240891\/"},"modified":"2026-04-21T21:00:08","modified_gmt":"2026-04-21T21:00:08","slug":"chicago-developer-lands-56m-to-build-fort-lauderdale-rental-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/240891\/","title":{"rendered":"Chicago Developer Lands $56M to Build Fort Lauderdale Rental \u2013 Commercial Observer"},"content":{"rendered":"

CedarSt Companies<\/a> nabbed a $56 million construction loan for a multifamily project in Fort Lauderdale, Fla., property records show.\u00a0<\/p>\n

The financing from Amzak Capital Partners<\/a> will cover a 215-unit development at 745 North Andrews Avenue, two blocks south of East Sunrise Boulevard, in the Flagler Village neighborhood.\u00a0<\/p>\n

SEE ALSO: IDB Bank Provides $33M Refi for Former Macy\u2019s Repositioning in Rockland County<\/a><\/p>\n

The project, which sits in a federally designated opportunity zone, will include 5,750 square feet of ground-floor retail, about 33,000 square feet of amenities for residents and 354 parking spots. Opportunity zones, a program created during President Donald Trump\u2018s first administration, allow owners<\/a> to defer or reduce capital gains taxes if they develop their parcels.\u00a0<\/p>\n

Chicago-based CedarSt paid $6.5 million for the nearly 1.5-acre site in 2022.\u00a0<\/p>\n

Flagler Village is seeing a rush of multifamily development targeted at young professionals, thanks to its proximity to the city\u2019s downtown and Hines\u2019 FAT Village, a 835,000-square-foot, master-planned, mixed-use development, which itself obtained<\/a> a $220 million construction in 2023 for the first phase.<\/p>\n

In January, Midtown Capital Partners secured<\/a> an $84 million floating-rate bridge loan to complete a 252-unit development. A month later, National Realty Investment Advisors nabbed<\/a> a $54 million loan for a 388-unit development.<\/p>\n

A representative for CedarSt Companies did not immediately respond to requests for comment.<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"CedarSt Companies nabbed a $56 million construction loan for a multifamily project in Fort Lauderdale, Fla., property records…\n","protected":false},"author":2,"featured_media":240892,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[106544,249,251,250],"class_list":["post-240891","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","tag-745-north-andrews-avenue","tag-fort-lauderdale","tag-fort-lauderdale-headlines","tag-fort-lauderdale-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/240891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=240891"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/240891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/240892"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=240891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=240891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=240891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}