Berkadia has secured a $92 million construction loan for Grover Corlew to develop Mayla Cypress, a 312-unit luxury apartment complex in Fort Lauderdale, Florida.

Target Information

Grover Corlew, a prominent real estate firm based in Boca Raton, Florida, has secured a $92 million construction loan to finance the development of Mayla Cypress, a luxurious multifamily property consisting of 312 units. This development is strategically located in the Cypress Creek submarket of North Fort Lauderdale. The Mayla Residences brand encompasses a commitment to creating high-quality living environments that blend luxury with local charm. Prior to this, Grover Corlew successfully launched Mayla Pompano in Pompano Beach, which achieved significant market success due to its premium finishes and desirable views.

Mayla Cypress aims to enhance the residential landscape in Fort Lauderdale by fulfilling the demand for upscale housing within a transforming urban setting. The development site spans 3.71 acres and has been curated to include an array of high-end amenities and features, including sophisticated living spaces equipped with modern luxuries.

Industry Overview

The multifamily housing market in Fort Lauderdale has seen considerable growth in recent years, driven by an influx of new residents and significant investments in infrastructure. The South Florida region, particularly Fort Lauderdale, is recognized for its desir