Mill Creek, Group P6 score $101M construction loan for 306-unit Boca Raton apartment project
Mill Creek Residential and Group P6 scored a $100.9 million construction loan for a 306-unit apartment building in downtown Boca Raton. The deal comes amid a continuing flow of financing for South Florida multifamily projects, despite elevated interest rates, skyrocketing insurance and slower lease-ups of rental buildings. Mill Creek and Group P6, both based in Boca Raton, paid $18.3 million for the development site at 400 South Dixie Highway where they plan the 13-story Modera Boca, according to records. The group of sellers include The Arbor Condominium Association, led by President Keith Backer. The 1.7-acre property now is home to […]This article originally appeared on The Real Deal. Click here to read the full story.
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