First Housing Development Corporation of Florida
Tampa, FL 33606
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Andros Isles Apartments
Project Information
- Project Location:
- Daytona Beach, FL
- Approx Contract:
- $25,000,000
- Status:
- Completed - Jul 2012
- Structure Type:
- Apartments & Condominiums
References
- Owner:
- DK Gateway Andros, LLC
- Architect:
- The Nelson SE Operating Co. L.L.C.
- General Contractor:
- DeBartolo Construction Services, LLC
- Client:
- Jorge Figueiredo - Owner DK Gateway Andros, LLC
Scope Of Work
First Housing originated $29,851,300 in permanent, fixed-rate debt through its HUD/FHA program for the construction of Andros Isles Apartments, a 360-unit apartment community in Delray Beach, FL. The loan features a 40-year term and 40-year amortization with a fixed interest rate of 5.4 percent. Andros Isles Apartments includes ten residential buildings of three stories, each facing a central lake. Units have one to three bedrooms and average 1,051 square feet in size. Senior Vice Presidents Ed Busansky and Scott Moreman originated the loan. Assistant Vice President Joann Lundquist handled the closing and subsequent construction administration.
First Housing also handled the permanent loan servicing for this project.
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