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.