Madison Realty Capital, Taconic Capital Lend $94M to Complete South Florida Apartments
Commercial Observer reported that Invesca Development Group has secured $94 million of construction completion financing from Madison Realty Capital and Taconic Capital Advisors to finish a 330-unit apartment complex project in Plantation, Florida. Madison supplied the senior loan on Invesca’s planned PIXL Plantation development and Taconic Capital Advisors provided mezzanine financing on the deal. Madison also originated an $85 million construction loan for the PIXL Plantation development in September 2022. Located just five miles west of Fort Lauderdale in Broward County, PIXL Plantation will include 522 parking spaces in two garages. Property amenities will feature swimming pools, fitness center and pickleball courts. The PIXL Plantation project is slated for completion by the end of the year.
