AMAC Announces Groundbreaking and Closing of a Construction Loan on a 290-Unit Multifamily Development in Aventura, Florida
AMAC, a national real estate investor and developer, today announced the groundbreaking of their latest multifamily development in Aventura, Florida. The building, located at 17990 West Dixie Highway, comprises 290 units and is slated for completion in Q1 of 2024. The firm simultaneously closed on a $67 million construction loan with Ocean Bank to develop the project.
The eight-story building features a mix of spacious studio, one-, two- and three-bedroom units, each equipped with decadent interiors and modern features including stainless steel appliances, stone counter tops, custom lighting and plumbing fixtures, in-unit washer and dryers, and smart lock entry.
“We are thrilled to begin construction on this unique development in a fantastic community in the heart of South Florida,” said Maurice Kaufman, Founding Principal at AMAC. “We are confident that this development will meet the new standard of luxury rentals, and we are excited to bring our next multifamily project to the area.”
The building will feature a luxury suite of amenities for its residents including a two-story gym, spa and sauna area, a pool with covered lounge area, outdoor kitchen and grilling areas, a dog wash, club room, library, media room, and social lounge, as well as a sunset terrace. Additional on-site amenities include a convenience market, concierge, smart package center, and a parking garage with 36 charging stations for electric vehicles. The building will also feature a 1,760 square foot space designated for private offices operated by Ora.
AMAC is developing the property along with Miami-based real estate development firm ROVR Development. The deal expands AMAC and ROVR’s presence in South Florida where the development team recently completed Biscayne 112, a 402-unit multifamily property located at 11200 Biscayne Boulevard. In February 2022, AMAC also acquired a multifamily development site at 4465 Griffin Road in Hollywood, Florida where the team will be commencing construction later this year on a 180 unit multifamily property.
For more information about AMAC, visit the website at www.amacholdings.com
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