Luxury Hallandale Beach Development in South Florida Scores $22M Loan
Oasis Hallandale — a $370 million luxury development near Aventura, Fla. — secured its first loan for $22.5 million.
City National Bank of Florida provided the mortgage to developer Hallandale Oasis 2019 LLC, led by Giuseppe Iadisernia, property records show.
Designed by high-profile firm Arquitectonica, the 10.8-acre development will consist of 13,100 square feet of office space, 81,900 square feet of retail, and two 25-story residential towers totaling 500 units. The apartments’ asking prices are slated to range between $400,000 and $2.8 million.
Construction began in May 2020 and is expected to end by 2025, Maria Fermin, a Hallandale Oasis developer agent, said.
The loan will finance the second phase of construction, which will cover the build-out of the retail space, the agent added. She declined to provide any other details about the loan.
Situated less than three miles from Aventura and about a mile from the ocean, the mixed-use project sits on the south end of Broward County at 1100 East Hallandale Beach Boulevard.
Amenities will include both indoor and outdoor movie theaters, a golf simulator, and a pet park.