![\"\"](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/04\/745-North-Andrews-Avenue.-Credit-Dorsky-Yue-International_2.jpg\")
<\/p>\n<\/p>\n
Fort Lauderdale, FL North River Partners, a New York-based real estate credit platform in partnership with Amzak Capital Management, a private investment firm located in Boca Raton, today announced it has provided a $68,500,000 construction loan for the development of Flats Flagler Gateway, a 215-unit Class A multifamily project located at 745 N Andrews Ave.\u00a0<\/p>\n
The financing supports the ground-up development of a 12-story, approximately 350,000 s\/f residential building situated on a 1.46-acre site in the city\u2019s rapidly evolving Flagler Village neighborhood. The project is being developed by an affiliate of CEDARst Companies, a nationally active multifamily developer, with construction anticipated to commence in May and completion projected for mid-2028. The loan carries a 36-month term.<\/p>\n
\u201cThis transaction reflects our continued belief that South Florida remains in the early stages of its growth, as well as our conviction in the Live Local program, shrewdly designed to address the region\u2019s acute housing shortage,\u201d said Jeff Rosenfeld, co-founder of North River Partners. \u201cFlats Flagler Gateway is a compelling opportunity to support a well-located multifamily development addressing both market-rate and workforce housing demand in one of South Florida\u2019s most dynamic growth markets.\u201d<\/p>\n
The loan was structured as part of the approximately $100 million capitalization, with North River Partners providing construction financing alongside sponsor equity, while Ackman-Ziff Real Estate Group\u2019s Andrew Rudy, and Jordan Brustein served as exclusive advisor in arranging the financing. The transaction marks North River Partners\u2019 second loan with CEDARst Companies.<\/p>\n
\u201cWe are pleased to expand our relationship with CEDARst through this financing,\u201d said Sean Robertson, co-founder of North River Partners. \u201cFlagler Village underscores our commitment to relationship lending at North River and our confidence in CEDARst to execute on their development strategy in growth markets throughout the US.\u201d<\/p>\n
Flats Flagler Gateway will feature a mix of studio, one-, two- and three-bedroom apartments, including both market-rate and workforce housing units, along with structured parking and a comprehensive amenity package. Planned amenities include a fitness center, pool and outdoor deck, and coworking space, among other lifestyle-oriented features designed to meet the needs of modern renters. The development is located near downtown Fort Lauderdale and adjacent to major mixed-use projects, reinforcing the area\u2019s continued growth as a residential and lifestyle destination.<\/p>\n
\u201cBreaking ground on 745 N Andrews is a significant milestone for CEDARst, our second construction start in Florida and a project we believe will deliver much-needed, well-designed housing to Fort Lauderdale,\u201d said Griffin Epping, director of CEDARst. \u201cWe are proud to once again work alongside North River Partners and Hogan Brothers on this development. 745 N Andrews further expands CEDARst\u2019s national Opportunity Zone strategy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Fort Lauderdale, FL North River Partners, a New York-based real estate credit platform in partnership with Amzak Capital…\n","protected":false},"author":2,"featured_media":242377,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[249,251,250],"class_list":["post-242376","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","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\/242376","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=242376"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/242376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/242377"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=242376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=242376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=242376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}