Fuse Group and KREA Developments have secured a $127 million loan for The Arcadian, a newly delivered, 502-unit apartment community in Fort Lauderdale. Madison Realty Capital provided the financing, arranged by Berkadia. The proceeds will refinance existing debt and help fund the property’s lease-up and stabilization.
Key takeaways
- The $127 million financing replaces debt on The Arcadian and supports its transition toward stabilized operations.
- The 502-unit community includes 151 apartments designated as attainable housing under Florida’s Live Local Act.
- The eight-story buildings are located in Fort Lauderdale’s Sistrunk District, near downtown and Flagler Village.
The loan comes as new multifamily properties across the Greater Miami area continue to attract financing, including both construction loans and debt for recently completed communities.
Financing supports lease-up
Madison Realty Capital issued the take-out loan to the Fuse Group and KREA Developments joint venture. The financing will refinance the project’s existing obligations and provide capital for leasing and stabilization. Centennial Bank had provided an $84.5 million construction loan in 2024, while the Fort Lauderdale Community Redevelopment Agency contributed $10 million.
The Arcadian came online in January. Fuse Group developed the property under Florida’s Live Local Act, setting aside 151 units for households earning between 100% and 120% of area median income. The source describes that allocation as among the largest of its kind in Broward County.
A 502-unit community in Sistrunk
The Arcadian occupies four acres at 640 NW Seventh Ave., in the historic Sistrunk District, between Flagler Village and downtown Fort Lauderdale. The development comprises two eight-story buildings and is about six miles from Fort Lauderdale-Hollywood International Airport.
Its studio, one- and two-bedroom apartments range from 482 to 1,098 square feet. Features include stainless-steel appliances, floor-to-ceiling windows, in-unit laundry and smart-home technology. Shared amenities include two pools, a fitness center, movie theater, coworking areas, golf simulators and a courtyard. The gated, pet-friendly property also has 15,000 square feet of ground-floor retail, 629 parking spaces and 20 electric-vehicle charging stations. It includes an indoor pickleball court and a pedestrian paseo.
South Pointe Construction and Development Co. was the general contractor, and Behar Font & Partners served as architect of record.
Regional multifamily lending remains active
The Arcadian financing adds to a series of recent deals in the Miami region. In June, 13th Floor Investments and Barings secured $134 million in construction financing for the final residential component of Link at Douglas in Miami. LUXCOM also obtained a $72 million loan for a completed, 235-unit community in Sunrise, while Terra Group secured $245 million for a 578-unit property forming the first phase of its Upland Park project.
Together, the transactions illustrate continued lender activity across the region, spanning development financing and loans for newly delivered rental communities.