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Resia Obtains Funding, to Build Golden Glades Project
Resia secured financing and will be the general contractor for a Golden Glades apartment project. The all-in-one developer broke ground on Resia Golden Glades, a 420-unit project, 84 to be set aside as workforce housing. The S. Florida Business Journal reports Regions Bank provided a $71 million construction loan for the project. It covers the 7.11-acre property at the northeast corner of Northwest Sixth Avenue and Northwest 159th Street, just east of Interstate 95.
Resia Golden Glades will feature four buildings, each five stories, plus a 705-space parking garage. Amenities will include a clubhouse, fitness center and pool.
The developer purchased the land for $12 million in 2021.
Resia is a subsidiary of Brazilian homebuilder MVR. In March, it signed a deal to raise money for its projects through fintech firm Inter&Co (Nasdaq: INTR).
As for the lender, this is the first significant apartment construction loan Regions Bank has awarded in South Florida since a Hollywood project in 2022.
- ◦Development
- ◦Financing
