Affinius Capital Provides $75M Refi for Soleste SeaSide in Dania Beach
The 340-unit apartment complex opened in 2022
By Brian Pascus November 22, 2024 2:58 pm
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The Estate Companies, a South Florida CRE developer, has secured $75 million to refinance Soleste SeaSide, a 340-unit apartment community in Dania Beach, a city just outside Fort Lauderdale, Fla., Commercial Observer can first report.
Affinius Capital provided the financing, while Walker & Dunlop’s Jonathan Schwartz, Adam Schwartz and Tom Melody arranged the transaction.
Eric Cohen, managing director and head of debt origination at Affinius Capital, described in a statement how The Estate Companies are “known” for delivering “high-quality projects” across the South Florida area, and said his firm is “thrilled” to be part of the Soleste SeaSide refinancing.
“We believe the asset’s location proximate to downtown Fort Lauderdale and Dania Pointe will continue to be a meaningful demand driver for continued strong performance at the property,” said Cohen.
Located at 4 North Federal Highway in Dania Beach — a city of roughly 31,000 within Broward County — is an eight story apartment complex that opened in 2023. The 340 units in the building range from studios to three-bedrooms and amenities include on-site parking, a fitness center, and an outdoor swimming pool.
The Estate Companies did not return requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com
