
Berkadia Arranges $12M Refinancing for New Boutique Loft Building in Downtown Fort Lauderdale
Berkadia has arranged a $12 million refinance loan for The Forge Lofts, a 35-unit boutique building completed in 2022 in the heart of downtown Fort Lauderdale’s historic warehouse-turned-tech district. Managing Director Brad Williamson, Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler and Matt Robbins of Berkadia South Florida arranged the loan on behalf of the sponsor, Urban Street Development.
Fannie Mae provided the seven-year, fixed-rate loan with full-term interest-only, through its Near-Stabilization Program and Green Building Certification Program.
Located at 401 NW First Avenue, The Forge Lofts offers one- and two-bedroom units featuring 10- to 13-foot ceilings, polished concrete floors, premium kitchen appliance packages, smart home technology, and large balconies. Community amenities include electric car charging station, high speed Wi-Fi, fitness studio, summer kitchen and heated pool.
The Forge Lofts are near the Brightline, The Broward Center for the Performing Arts, and the Fort Lauderdale Museum of Art.