Developer Giuseppe Iadisernia scored a $112 million construction loan for the east tower of his planned Oasis Hallandale condo development, bringing his total financing for the project to $197 million.
New York City-based S3 Capital, led by Robert Schwartz and Joshua Crane, is providing the financing for the tower planned for 1000 East Hallandale Beach Boulevard in Hallandale Beach, according to a press release. The east tower is the second of two 25-story, 250-unit condominiums planned as part of Iadisernia’s 10-acre mixed-use Oasis Hallandale development.
Iadisernia received $85 million from Franklin BSP Realty Trust in August for the construction of the west tower, which is 80 percent pre-sold and slated for completion later this year, according to the release.
Sales for the east tower launched in November, with One Sotheby’s International Realty heading sales and marketing. Units will range from 900 square feet to 4,750 square feet, and will have two or three bedrooms. Prices start at $750,000 and go up to $5 million.
Amenities in the complex will include a pool, lounge, an office space, fitness center and spa facilities, a spokesperson confirmed.
Iadisernia is the developer and owner of Hallandale Oasis 2019 LLC, the entity building Oasis Hallandale. The project is one of many slated for Hallandale Beach, which has become a magnet for real estate investment in recent years.
Seville General Partners, led by Paul Rosen, is seeking to build a 750-unit mixed-use, multifamily project on the site of a Hallandale Beach mobile home park. Arnaud Karsenti’s 13th Floor Investments landed an $83 million loan to build 398 apartments in August. BH Group is partnering with Prime Group to plan a 15-story, 246-key hotel in Hallandale Beach.