
Centennial Bank Provides $33M Loan for Sweetwater Senior Housing Community
Centennial Bank Southeast Florida has provided a $33 million loan to CREI Holdings LLC for a future senior affordable housing community in Sweetwater.
CREI Holdings LLC plans to develop an eight-story, 244-unit multifamily apartment community on the five-acre parcel of land at 400 NW 112th Ave and 11239 NW 4th Terrace in Sweetwater. The community will be comprised of one and two-bedroom units ranging from 609-874 square feet. The development broke ground in early August. Previously, Vann Academy, a school/daycare center occupied the site and closed their doors around the time the pandemic started.
J.C. de Ona and Yuleisy Montalvo of Centennial Bank Southeast Florida arranged the financing on behalf of the borrower. Terms of the financing were not disclosed.
- ◦Development
- ◦Financing