13th Floor, Rockpoint score $100M construction loan for rental project near Tri-Rail stop
13th Floor Investments and Rockpoint scored a $100 million construction loan for an apartment project near the Boca Raton Tri-Rail station. The 340-unit development hit the pipeline as South Florida is feeling the sting of a multifamily supply overhang, as hefty completions and slower in-migration in recent years have led to lower rents and more concessions. Coconut Grove-based 13th Floor and Boston-based Rockpoint will start construction this month of the eight-story Link at Boca building, with 24,000 square feet of ground-floor retail at 680 West Yamato Road, according to the developers’ news release. The project, on tap next to El […]This article originally appeared on The Real Deal. Click here to read the full story.
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