FORT LAUDERDALE, FLA. — Grover Corlew, a Boca Raton, Florida-based developer, has secured a $92 million construction loan to build Mayla Cypress, a 312-unit community in the Cypress Creek submarket of North Fort Lauderdale.
Berkadia Managing Director Scott Wadler, Vice President Patrick Johnson, Senior Managing Director Mitch Sinberg, along with Brad Williamson and Matthew Robbins, managing directors of Berkadia Miami and Boca Raton, arranged the three-year construction loan provided by Affinius Capital. The deal closed on May 30.
Mayla Cypress is situated on a 3.7-acre site Grover Corlew assembled in 2022. The developer anticipates the project’s completion date will be approximately May 2027. Straticon is the general contractor.
Amenities at Mayla Cypress will include a billiards bar with an adjacent speakeasy; a courtyard; a resort-style pool with cabanas; a two-story, 24-7 fitness center with a cardio mezzanine level and a yoga room; coworking space; event or conference space; a sundry store; package rooms and more.
Last year, Grover Corlew completed another Mayla-branded property in Pompano Beach, Florida.