Merrimac Ventures Secures $72M Construction Loan for Plantation MF Project
South Florida-based Merrimac Ventures has secured a $72 million construction loan for Merrimac Plantation, a new multifamily project in Plantation, FL.
Located at 1711 N. University Drive, Merrimac Plantation will total 293,945 square feet with 306 apartments and 543 parking spaces. The six-story building will include a pool, a gym, a club room and a game room. Construction is slated to begin in June 2021 and be completed by 2023.
The financing for Merrimac Plantation includes $50.6 million from Bank OZK and $21 million from CanAm Enterprises. The Ackman Ziff team of David Harte, Jason Krane, and Simon Ziff brokered the loans on behalf of Merrimac Ventures.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.