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Florida & Gulf Coast  + South Florida  + Finance  |  January 21, 2022
One Ocean residential tower in Hallandale Beach, FL
By: Lisa McDuffie

KAR Properties Receives $128M Refinance for 2000 Ocean Residential Tower

Madison Realty Capital has refinanced Apollo Commercial Real Estate Finance‘s $103-million construction loan with a $128-million condo inventory loan on 2000 Ocean in Hallandale Beach, FL.

The 64-unit, 38-story beachfront property created by KAR Properties obtained TCO in December and is now welcoming residents. Unit prices start at $3 million, with Fortune Development Sales Group is serving as sales and marketing firm for the project. 2000 Ocean will be managed by KWPMC, a Miami-based association management company known for its luxury hospitality approach.

KAR Properties currently oversees the management of a core portfolio of assets and a development pipeline in excess of five million square feet.  KAR has acquisitions and investments in excess of $200 million in Miami’s established and emerging neighborhoods. 

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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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