Ceiba breaks ground on rental townhouses in Oakland Park with $31M loan
ID-Oakland-Park-2
Cieba Groupe broke ground on the ID Oakland Park rental townhouse community thanks to a $31 million construction loan.
First Horizon Bank provided the mortgage to CG Oakland Park LLC, led by Adam Bedzow as managing principal of Fort Lauderdale-based Ceiba Groupe. The loan covers the 6.6-acre site at 1000-1140 N.E. 58th St., which is near Pine Crest School, a highly rated private school. The site is also close to Holy CrossHospital and Broward Health Imperial Point, two major employers.
Ceiba Groupe’s in-house construction division recently filed notice with the county that it started building 106 rental townhouses there. The community will
include a clubhouse, a pool a playground, and a dog park. Most of the townhouses will have car ports, but not garages. The developer acquired the property for $3.13 million in 2016.
With home values increasing, more people are choosing to rent. Townhouses are larger than typical apartments, so ID Oakland Park could be a good option for
families that want more space but can’t buy a single-family homes.
Cieba Groupe broke ground on the ID Oakland Park rental townhouse community thanks to a $31 million construction loan.
First Horizon Bank provided the mortgage to CG Oakland Park LLC, led by Adam Bedzow as managing principal of Fort Lauderdale-based Ceiba Groupe. The loan covers the 6.6-acre site at 1000-1140 N.E. 58th St., which is near Pine Crest School, a highly rated private school. The site is also close to Holy CrossHospital and Broward Health Imperial Point, two major employers.
Ceiba Groupe’s in-house construction division recently filed notice with the county that it started building 106 rental townhouses there. The community will
include a clubhouse, a pool a playground, and a dog park. Most of the townhouses will have car ports, but not garages. The developer acquired the property for $3.13 million in 2016.
With home values increasing, more people are choosing to rent. Townhouses are larger than typical apartments, so ID Oakland Park could be a good option for
families that want more space but can’t buy a single-family homes.
