"With the opportunity to bring a nearly complete multifamily project across the goal line and begin construction of a separate rental development with additional collateral pieces, this was a compelling deal for MRC to finance," said Josh Zegen, co-founder and managing principal of MRC, in prepared remarks.

The Pompano Beach property will total over 450,000 square feet when finished across two buildings connected by a sky bridge.

The 4350 West Sunrise Boulevard property spans 12.3 acres as part of a 24.6-acre master plan. The 720,000 square foot multifamily building on the site will consist of 330 high-end apartments with 626 parking spaces upon completion. The development also includes a 30,000 square foot commercial building, a 1.1-acre office development site, 10 completed townhomes, and 37 approved additional townhome lots.