Developer switch: AMAC, ROVR scoop up 285-unit multifamily site in Pompano Beach

Excerpt from the Real Deal website: Three years after scoring approval for a 285-unit multifamily project in Pompano Beach, Art Falcone opted to sell the development site for $13.5 million. 

AMAC, led by Ivan and Maurice Kaufman, and Coral Gables-based ROVR Development bought the 6.2-acre property at 3151-3251 North Federal Highway, said Jeremy Forman, vice president of acquisitions at AMAC. The buyers secured an $8.5 million loan for the purchase from New York-based Maxim Capital Group, records from real estate database Vizzda show. 

Read the full article here: https://therealdeal.com/miami/2024/06/11/falcone-sells-pompano-beach-rentals-dev-site-to-amac-rovr/