KAR Properties, led by Shahab Karmely, have closed on a $128 million condo inventory loan for the recently completed 2000 Ocean in Hallandale Beach. Madison Capital Realty provided the loan which will be used to pay off a $103 million construction loan issued by Apollo Commercial Real Estate Finance in 2018.
Read MoreKAR Properties Locks Down $103 Million Construction Loan For 2000 Ocean Designed By Enrique Norten In Hallandale Beach
Shahab Karmely’s KAR Properties has locked down a $103 million construction loan for the now under construction 2000 Ocean in Hallandale Beach. The financing is being provided by Apollo Commercial Real Estate Finance, a New York-based real estate investment trust.
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The Enrique Norten-Designed 2000 Ocean Breaks Ground In Hallandale Beach
KAR Properties has officially broken ground on 2000 Ocean in Hallandale Beach, designed by Enrique Norten of TEN Arquitectos. Suffolk Construction is the contractor on the project where sales launched in November 2017 with pricing starting at $2.6 million. 2000 Ocean is expected to be delivered in 2020.
Read More2000 Ocean Designed By Enrique Norten To Break Ground In Early 2018 In Hallandale Beach
2000 Ocean is gearing up to break ground in Hallandale Beach after launching sales in November 2017. The beachfront condo tower is designed by Enrique Norten's TEN Arquitectos and will rise 40 stories, providing spectacular views of the Atlantic Ocean and Intracoastal Waterway. The boutique condo tower features 64 residences, the smallest being a 2,913 SF half floor 3 bedroom and ranging up to 5,832 SF full floor 5 bedroom penthouse residences. Pricing starts at $2.8 million.
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