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Florida & Gulf Coast  + Miami + South Florida  + Apartments  |  June 15, 2022
AMAC has closed a $67-million construction loan with Ocean Bank for a 290-unit multifamily in Aventura, FL.
Lisa McDuffie
By: Lisa McDuffie

$67M Construction Loan Launches AMAC’s Third South FL Multifamily

AMAC has closed a $67-million construction loan with Ocean Bank and broken ground on a 290-unit luxury multifamily in the North Miami Beach, FL submarket of Aventura.

The eight-story building on West Dixie Highway will feature a mix of studio, one-, two- and three-bedroom units plus on-site amenities including a convenience market, concierge, smart package center and a parking garage with 36 charging stations for electric vehicles. The building will also feature a 1,760-square-foot space designated for private offices operated by Ora.

AMAC is developing the property in conjunction ROVR Development. The partnership recently completed Biscayne 112, a 402-unit multifamily property located at 11200 Biscayne Boulevard.

In February 2022, AMAC also acquired a multifamily development site at 4465 Griffin Road in Hollywood, Florida where the team will be commencing construction later this year on a 180-unit multifamily property.

Photo courtesy AMAC

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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