Regions, City National fund $50M apartment expansion at Fort Lauderdale’s New River Village

By Thomas Angelo on June 27, 2013 in News, Press Releases

Phase III will include 209 apartment units with roof top amenities and ground floor retail establishments.

Paul Brinkmann

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.