**Grover Corlew Secures $92M to Build 312-Unit Apartment Complex in Fort Lauderdale**
Grover Corlew has secured a $92 million financing package for the development of a 312-unit apartment project in Fort Lauderdale’s Cypress Creek submarket.
According to the South Florida Business Journal, the financing includes a $72.3 million mortgage from Bank OZK and a $19.7 million mezzanine loan from Affinius Capital. The funding supports development of the 3.71-acre site located at 6261 N.W. Sixth Way, adjacent to the Citrix headquarters. Berkadia’s Scott Wadler, Mitch Sinberg, Brad Williamson, and Matthew Robbins arranged the loan on behalf of Grover Corlew, a Boca Raton-based development firm.
Grover Corlew originally acquired the property in 2022 for $5.9 million. At the time, it housed an office building, which has since been demolished to make way for the new multifamily community.
The upcoming development, named Mayla Cypress, will feature a wide array of amenities including a billiards room with a speakeasy, a resort-style pool with cabanas, fitness center, coworking space, yoga room, clubroom, outdoor kitchen, and a sundry store.
Project completion is anticipated by 2027. Straticon is serving as the general contractor, while MSA Architects is responsible for the design.
