Reporter- South Florida Business Journal
June 27, 2013
A subsidiary of American Land Ventures recorded a $48.5 million mortgage on Thursday for a Phase III luxury apartment tower at New River Village in downtown Fort Lauderdale. The financing from Regions Bank as agent and City National Bank as participant are backing construction – already underway – for a new 15-story, 209-unit building.
Fort Lauderdale attorney Thomas Angelo, of Angelo & Banta, represented American Land Ventures subsidiary (New River 3 Venture LLC).
“The loan closed Wednesday and they are mobilized on the site already,” Angelo said.
He said ALV, headed by Granvil Tracy, developed phases one and two of the property as well.
Apartments will feature 1, 2, and 3 bedrooms.