The 2000 Ocean condo project in Hallandale Beach has received a $103 million construction loan about a month after breaking ground.
ACREFI Mortgage Lending, an affiliate of Apollo Commercial Real Estate Finance, provided the mortgage to 2000 Ocean Owner LLC, an affiliate of New York-based KAR Properties. It covers the 38-story tower slated for the beachfront site at 2000 S. Ocean Drive. Receiving a construction loan means the lender was satisfied with the developer’s pre-sales activity.
The…
