### Adache Real Estate Secures $59M Refinancing for Old Town Square
Adache Real Estate has successfully obtained a $59 million refinancing for Old Town Square, a 281-unit mid-rise apartment complex located at 200 NE 1st St. in Pompano Beach.
Completed in 2024, Old Town Square offers studio, one-, and two-bedroom apartments, with some units featuring private balconies. The community includes several upscale amenities such as barbecue grills, a gaming deck, a 24/7 professional fitness center, community bicycles, an on-site mini market, 24/7 property management, a pool, sauna, and hot tub.
The refinancing was arranged by Northmarq’s West Palm Beach Debt + Equity team, consisting of David Gahagan, Chris Hammel, and Chandler Kaye. The transaction was secured through a life insurance company and structured with a three-year, interest-only term, including extension options.
Located in the vibrant city of Pompano Beach, Old Town Square offers convenient access to restaurants, shopping centers, supermarkets, local parks, and Pompano Beach Golf. The property enjoys prime connectivity via West Atlantic Boulevard, Interstate 95, and U.S. Highway 1. Additionally, it is just two miles from the scenic Atlantic Ocean beaches and approximately 40 miles from downtown Miami.
