Fifth Third Bank funds construction of 175 apartments in Miami-Dade County

Johnson Development Associates launched its first apartment project in South Florida as it obtained a $31.1 million construction loan for a project in the Fontainebleau area of Miami-Dade County.

Fifth Third Bank provided the mortgage to the Residences at Fountain Square, an affiliate of the Spartanburg, S.C.-based developer. In April, it paid $5.25 million to Aventura-based Fontainebleau Place LLC for a 3.3-acre site. It’s located just behind a new Target-anchored shopping center at 9951 West Flagler Street.

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Story by: Brian Bandell – Jun 4, 2015, 9:32am EDT
Photo Courtesy: Thinkstock

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