Matthews™ Capital Markets Secures $13.875M Acquisition Loan for 124-Unit South Florida Multifamily Property

MIAMI, FL—Matthews™ Capital Markets (MCM), a fully integrated and dedicated financing division of Matthews™, secured a $13,875,000 acquisition loan for Avondale Gardens, a multifamily community located at 111 Avondale Drive in Pompano Beach, Florida. First Vice President & Associate Director Andrew Marcus and Associate Matthew Jones facilitated the financing on behalf of the borrower.

The borrower, a repeat Matthews™ client, was seeking to complete financing on a tight timeline to satisfy the up-leg of a 1031 exchange. Structured at 75% loan-to-value with a 5.25% interest rate, a 10-year term, 30-year amortization, and 24 months of interest-only payments, the financing provided favorable terms while accommodating the time-sensitive acquisition. Jones and Marcus leveraged their lender relationships and market expertise to secure competitive bank financing, delivering speed of execution without sacrificing terms and closing just 42 days after the term sheet.

Located in the Outer Pompano Beach/Deerfield Beach submarket, Avondale Gardens is positioned near West Atlantic Boulevard and I-95, offering connectivity throughout the South Florida MSA. The property is also within convenient reach of Cypress Creek Station and Fort Lauderdale-Hollywood International Airport.

“This deal consisted of 124 units across a 12-building complex spanning almost four acres,” Jones said. “We were thrilled to get this done in a timely fashion for a repeat client, helping them quickly satisfy a 1031 exchange on a tight deadline.”

For more information, please contact Andrew Marcus and Matthew Jones or visit www.matthews.com.

About Matthews™ Capital Markets

The Matthews™ Capital Markets (MCM) is a fully integrated and dedicated financing division of Matthews™. MCM provides capital solutions for all property types across the U.S.