ACRES funded a $74.5 million loan which will be used for the development of a new ground-up, luxury, age-restricted (55+) residential condominium. The loan, which carries a term of 24 months, will be used for the demolition of the existing structure and ground-up construction of the new development. The condominium will feature:
The sponsorship is represented by long-time members of the Ocean Reef Club who selected ACRES for this project due to its flexible financing solution and certainty of execution.
The Florida Keys is known for its warm climate and year-round availability for watersports and it’s rapidly becoming a hotspot destination with a more geographically dispersed clientele.