The borrower is Hallandale Land Ventures LLLP, a Florida Single Asset Borrowing Entity and subsidiary of Integra Investments. This loan has an 11-year term with four years of interest only, followed by a 30-year amortization schedule.

Suarez says the property is 88% occupied and occupancy has remained steady.

"The borrower developed this Class-A multifamily apartment complex in 2018," Marc Suarez, says. "The property has experienced significant demand with units being rented out as the individual buildings were completed. Artsquare at Hallandale is located in a dynamic submarket that attracts residents from both North Miami and Fort Lauderdale. Integra had the vision to see the potential and need for a Class-A multifamily development at attractive rent prices for working professionals and families. This long-term financing allows our client to take advantage of strong demand and rent growth, which validates their vision and business plan."

Complex amenities include a resort-style swimming pool, a state-of-the-art fitness center, yoga/spin studio, outdoor lounge, dog wash station, club room, social lounge, conference room, kids' room, and a private theater.