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Forum Capital Advisors Arranges $66MM in Financing for Multifamily Development

July 26, 2022, 06:00 AM
Filed Under: Real Estate

Forum Capital Advisors, a Denver-based real estate investment and asset management firm, 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 with Forum Investment Group. “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.

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