Fuse Group and KREA Developments, the U.S. subsidiary of Grupo KREA, have secured a $127 million construction take-out loan for a 502-unit multifamily community, recently delivered community in Fort Lauderdale, Fla.
Madison Realty Capital issued the note in a deal arranged by Berkadia.
Proceeds will refinance existing debt and provide capital in support of lease-up and stabilization strategies at the property. The Arcadian initially became subject to an $84.5 million construction loan issued by Centennial Bank in 2024. Fort Lauderdale Community Redevelopment Agency also provided a $10 million contribution…