FORT LAUDERDALE, Fla. – July 25, 2022 – Forum Capital Advisors LLC, a Denver-based real estate investment and asset management firm, announced today that is has closed on approximately $66 million in senior and subordinated debt financing supporting the development of a to-be-built Class A, 252-unit multifamily building in Fort Lauderdale.
”Forum is excited to partner with Bank OZK for the construction debt on this extremely well located development in the rapidly growing Fort Lauderdale market,” said Ross MacDonald, Senior Director of Investments. “We are excited to continue our growth in the Florida market and look forward to future opportunities with this strong vertically integrated sponsor.”
Once completed in 2024, Flagler Station will consist of 252 market rate units averaging 757 square feet. The 12-story podium mid-rise will feature community amenities such as a resort-style pool with an outdoor kitchen, an artificial turf dog park, and 2,087 square feet of ground-floor retail space.
Fort Lauderdale’s population growth has been slow but steady over the last 10 years with job growth in the metro area up 6.1% in 2021, compared to the national average of 4.3%. Flagler Station is located in the trendy, downtown Flagler Village neighborhood, within walking distance of the local Winn-Dixie and numerous bars and restaurants.
About Forum Investment Group
Forum Investment Group* is an innovative asset management firm that provides access and expertise to multifamily investments up and down the capital stack and throughout economic cycles. The firm specializes in multifamily acquisitions, developments, real estate debt, and structured finance solutions for owners, operators and developers across the U.S. Since 2007, Forum has built a track record that seeks to generate reliable current income with an attractive risk/return profile. For more information, visit www.forumcapadvisors.com.
*Forum Investment Group is not a legal entity. References to “Forum Investment Group” or “Forum” refer to Forum Capital Advisors LLC (a registered investment adviser with the U.S. Securities and Exchange Commission that acts as the investment adviser to all of the Forum fund vehicles) and Forum Real Estate Group, LLC (Forum’s direct real estate investment arm).
Forum Real Estate Group