Midtown lands $84M debt for Flagler Village apartments amid supply overhang

Midtown Capital Partners scored an $84 million construction bridge loan for its Flagler Village apartment project.  Miami-based Midtown Capital is expected to complete the 252-unit Astor Park Flagler Village with a pair of 12-story buildings this summer. The complex, at 333 Northeast Sixth Street in Fort Lauderdale, is on tap as South Florida feels pressure from a supply overhang following years of hefty multifamily completions.  BridgeInvest, based in Miami, provided the floating-rate loan, which refinanced Midtown Capital’s construction loan and funded remaining completion costs, according to a news release from the financing’s broker.  Mitch Sinberg and Scott Wadler were part […]

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