Town House Project Gets $6M Loan

LAKE WORTH, FL-Courtyards of Lake Worth LLC has obtained a nearly $6.4 million loan for a town house development here. The lender was BankAtlantic, based in Fort Lauderdale. Amy Engelberg of the BankAtlantic Commercial Lending Division in Boca Raton, FL, handled the transaction.Of the loan amount, the first almost $2.4 million is for site development. In addition, $4 million will go for the construction of 49 town homes. The project is named Courtyards of Lake Worth at College Park. The project site is located at the northeast corner of Dixie Highway and Columbia Drive. The project includes 2.4 acres of land to be improved for the townhouse development.Courtyards is being developed by Anthony Guillaro and C.J. Amorosana, principles of Phoenix Industries, which is based in New York and has a regional office in South Florida. Site work is under way, and developers expect to start vertical construction within about two weeks, Engelberg says.