Apollo Lands $56M Construction Loan for Mixed-use Development in Dania Beach

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The Apollo Companies secured a $55.6 million construction loan from the New York branch of the Israel Discount Bank for a mixed-use development in Dania Beach, property records show.

Called 101 Dania Beach Apartments, the development is set to feature two 13-story buildings connected by a skybridge, between 101 Monroe Udell Street and 127 SW First Court, just north of Stirling Road.

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In total, the project will house 380 apartments, 23,000 square feet of office space and 4,800 square feet of ground-floor retail, according to the Aventura developer’s website. Construction got underway this week.

The Apollo Companies, led by CEO Edward Abbo, assembled the site between 2021 and 2023, paying $3.8 million, according to property records. 

Apollo is an active multifamily developer in South Florida. Last year, the firm was the first to propose a multifamily development in Doral using the Live Local Act, a Florida law that provides developers with added density in return for designating a portion of units as affordable housing.

In response, the Doral municipal government instituted a six-month moratorium on new developments. In October, town officials and Apollo Companies reached a deal, lifting the moratorium. Apollo Companies agreed to shorten the 12-story development to eight stories.  

A representative for Apollo Companies did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com