Kolter Urban secured a $25m loan from CIBC Bank for 100 Las Olas, a mixed-use project currently underway in Fort Lauderdale. The 499-foot tower will feature 121 condominium units as well a 238-room Hyatt Centric hotel and 8,500 sq ft of restaurants and retail on the ground floor. The scheme, which will span more than 46 floors, is one month ahead of schedule, with contractor KAST Constructions currently pouring the 15th floor. Once completed, the building will be the tallest structure in Fort Lauderdale.
“Obtaining this construction loan from CIBC Bank is a huge milestone for 100 Las Olas. It shows the confidence that the community has in this project. The condos are already being so well received by the market, and there is strong interest from vendors in the ground-floor retail and restaurant opportunities,” said Bob Vail, president of Kolter Urban.
