FORT LAUDERDALE, FL -Cavache Properties LLC, today announced it has secured a $17 million construction loan and an additional $6 million equity investment to finance the construction and development of 30 Thirty North Ocean, a chic, urban beach lifestyle condominium project located in the upscale Lauderdale Beach neighborhood.
Trez Forman Capital Group of Boynton Beach, FL provided the $17 million construction loan for the project. “Fort Lauderdale beach’s residential market fundamentals continue to show great strength. This project’s proximity to the beach, business corridor, and main highways, in conjunction with the Developer’s successful track-record, creates a compelling opportunity, said Brett Forman, CEO of Trez Forman Capital. “We are excited to be involved in this magnetic condominium project.”
Prior to the construction loan, New York-based Roberts Equities LLC, a commercial investment and real estate development company, invested $6 million of equity into the project. “30 Thirty will offer residents the best of Fort Lauderdale beach, while also delivering an iconic design and best in class unit concepts and finishes, said Randy Tulepan Vice President of Roberts Equities. “We are more than thrilled to align ourselves with such a prestigious property and respected development team.”
“Securing this financing reflects the appeal of 30 Thirty by commercial lending institutions eager to invest in a project with an exceptional Fort Lauderdale Beach location, world-class design that has already yielded amazing pre-construction sales, said Adam Adache, managing partner of Cavache Properties LLC. “We’re delighted to receive this vote of confidence from Trez Forman Capital Group and Roberts Equities, and that they recognize 30 Thirty’s unique qualities and widespread appeal to buyers.”
The 24-unit luxury condominium will feature summer kitchens on the lower levels units, private elevators and high-end finishes. Offering six three-bedroom, three-and-one-half bath floorplans ranging in size from 2,100-2,400 square feet under A/C. 30 Thirty units are priced from $1.2-$1.55 million
30 Thirty North Ocean’s amenities will include a heated resort-style swimming pool, whirlpool spa sauna, and a fully equipped clubhouse with fitness center, owners’ kitchen and bar. Outside the clubhouse are a gazebo barbecue area and sundeck with lush landscaping. 30 Thirty North Ocean also features secured common areas highlighted by gardens throughout, Wi-Fi in common areas, secured building access, and private neighborhood security patrol.
Adache added, “In addition to residential units and amenities, 30 Thirty North Ocean owners will enjoy full membership privileges to the acclaimed, The Club at Harbor Beach Marriott Resort & Spa. Residents will have access to The Club's quarter-mile-long private beach, tennis, water sports, 8,000-square-foot heated lagoon pool, recreation, and full-service European-style spa, fitness center complete with a movement studio and personal instruction, and social events that cater to both adults and families.”
Situated 10 blocks north of the world-renowned Fort Lauderdale Beach strip, and among a neighborhood of $2.5 million-plus homes, 30 Thirty North Ocean will be located on the last parcel of its size east of A1A in Lauderdale Beach. Construction on the project is slated to be completed first quarter 2019.
The 30 Thirty North Ocean sales center is located at 3020 NE 32nd Avenue, in Fort Lauderdale, is open daily from Monday to Friday from 10am to 6pm and Saturday and Sunday from 11am to 5pm. To speak to a member of the sales team, or book an appointment, please call 954-400-5573, or email info@30-thirty.com. For more information, visit www.30-Thirty.com.
About Robert Equities: Roberts Equities, LLC is a privately held full service Commercial Real Estate Investment, Development, Management and Leasing Company based in South Florida with additional offices in the Northeast. To learn more about Roberts Equities, please visit our website at www.RobertsEquities.com.
About Trez Forman Capital: Founded in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide. It provides developers and property owners with quick approvals on flexible short to mid-term financing from $5M to $75M+. The company also offers private and institutional investors equity investment opportunities in a variety of funds and assets. Trez Forman is a joint venture between Brett Forman’s mortgage lending firm, Forman Capital, and Trez Capital, one of Canada’s largest private commercial mortgage lenders. For more information, visit www.trezforman.com.
About Cavache Properties LLC: Cavache Properties LLC is a real estate development and investment company based in Pompano Beach, Florida. The company currently has several projects in the development phase in South and Central Florida. The Cavache Properties Management Team has been involved in the design, development, and sales and marketing of multiple residential and commercial projects. These include condominiums, apartments, hotels, single family homes, townhouses, and retail. For more information, visit www.cavacheproperties.com.
About 30 Thirty North Ocean: 30 Thirty North Ocean is a chic, urban, beach lifestyle condominium located in the upscale Lauderdale Beach neighborhood in Fort Lauderdale. 30 Thirty North Ocean’s sales office is located at 3020 NE 32nd Avenue, in Fort Lauderdale. For more information, visit www.30-Thirty.com or call 954-400-5573.