MIAMI, FL (April 18^th, 2023) - Concord Summit Capital, LLC (“Concord Summit”) arranged a $50 million construction loan and $10 million of preferred equity for a multifamily development in Hollywood, Florida. David Larson, Keegan Burger, and Daniel Rojo of Concord Summit’s Miami office served as advisors and sourced the financing.

The funds will be used for the construction of a 180-unit apartment development located in the core of Hollywood’s entertainment district – within proximity to Hollywood Beach, I-95, and numerous education, employment, and shopping centers. Developed by The Calta Group, in partnership with Gilu Holdings and Development, the 7-story project will be built to Class A standards. The project is expected to be delivered in Q1 2025.

The Calta Group has built and managed over 1 million square feet of commercial real estate and has over 45 years of development experience. Gilu Holdings and Development has built over 1 million square feet of commercial real estate and has yielded over $259 million in total project value.

“The location and strength of sponsorship, in combination with the increasing demand for South Florida multifamily, allowed the borrower to maximize pricing and terms for the project. The team at Calta and Gilu were a pleasure to work with and we are look forward to many more projects with them in the future,” said Larson.

ANF Group Named General Contractor to build 255-unit multifamily development

A joint venture between two Miami-based developers, Global City Development and Gilu Development, are set to break ground on a 17- acre parcel in Fort Myers, FL, on the corner of Crystal Drive and 6 Mile Cypress Parkway, that was purchased in August 2022.

The joint venture will be developing a $90 million, 255-unit gated luxury multi-family community, consisting of 1-, 2-, and 3-bedroom residences, ranging in size from 786 sq ft to 1,690 sq ft.

Amenities include private garages, outdoor exercise areas and a 2-story 6,200 square foot clubhouse, which features a state-of-the-art fitness center, a meditation area, a children’s playroom, a resident’s lounge (inclusive of private zoom studios and co-working space), a grand room for events, on-site management office, a resident’s package room and convenience area coupled with lush landscaping and a pool overlooking the community’s private lake. 

The project should break ground in January 2023 with a completion date in Q2 2024.

The centrally located parcel is within minutes from major retailers, medical centers and entertainment facilities, among them Whole Foods, Publix, Top Golf, Gulf Coast Medical Center, Lee County Sports Complex and numerous others. 

“The City of Fort Myers is one of the State of Florida’s true gems,” said Brian Pearl and Diego Procel, Principals of Global City Development.

Added Luis Bermudez of Gilu Development & Holdings:  “This community will have an extremely positive impact on the area as a whole and support the need for housing in our growing state.”

“We are honored to be working among the industry’s most respected professionals and look forward to expanding our footprint to Florida’s southwest region,” said Al Fernandez, president of ANF Group.

Since 1981 ANF Group, Inc. has been an industry leader in multi-family, commercial, and education construction, and has played a vital role in the highly specialized niche of healthcare construction.