Invesca Scores $102M Construction Loan For Two SoFla Apartment Projects
Madison Realty Capital is continuing its expansion into South Florida with a first mortgage loan for a pair of forthcoming projects, according to The Real Deal. The borrower, Invesca, will use the $102 million loan to finish a 98% complete multifamily project in Pompano Beach and begin construction on a larger mixed-use development in Plantation. In December the debt investment fund extended $210 million to Fort Partners for the Four Seasons Hotel and Private Residences in Fort Lauderdale. MRC also provided $225 million in construction funding for The Residences at Mandarin Oriental in Boca Raton in July.