Adache Real Estate obtained a $59 million refinancing for Old Town Square, a 281-unit mid-rise apartment complex located at 200 NE 1st St. in Pompano Beach.

Completed in 2024, Old Town Square features studio, one-, and two-bedroom apartments. Some units offer private balconies. Community amenities include barbecue grills, a gaming deck, a 24/7 professional fitness center, community bicycles, an on-site mini market, 24/7 property management, and a pool, sauna and hot tub.

Northmarq’s West Palm Beach Debt + Equity team of David Gahagan, Chris Hammel and Chandler Kaye successfully arranged the financing through a life insurance company. The transaction was structured on a three-year, interest-only term with extension options.

Located in modern and vibrant Pompano Beach, Old Town Square is within close proximity of restaurants, shopping, supermarkets, local parks, Pompano Beach Golf, and more. It has quick access to West Atlantic Blvd, Interstate 95 and U.S. Highway 1. It is roughly two miles from beaches along the Atlantic Ocean, and it is roughly 40 miles from downtown Miami.