AMAC and ROVR got a jump start on their planned multifamily project near Aventura in the form of a $67 million construction loan.
New York-based AMAC and Coral Gables-based ROVR are developing the eight-story Aventura Park building with 290 units at 17990 West Dixie Highway, according to a news release from the lender, Ocean Bank. The property is along the Oleta River, across from Greynolds Park.
Eddie Diaz led the Ocean Bank team that arranged the financing.
Aventura Park, designed by the architecture firm Anillo. Toledo. Lopez, will include a pool, gym and spa, as well as a six-story building with a 439-space garage. Medley-based Delant Construction is the general contractor.
Construction is expected to be completed in early 2024, according to the release.
An entity tied to AMAC bought the almost 3-acre vacant development site last year for $10.3 million.
Source: The Real Deal