Kadima Developers Lands $32.5M Construction Loan for Seven Park in Hallandale Beach

Kadima Developers has secured a $32.5 million construction loan from S3 Capital Partners to fund Seven Park, an 8-story mixed-use residential building at 218-220 SE Seventh Street in Hallandale Beach, Florida.

The 200,000-square-foot project, designed by SKLARchitecture, will hold 121 condominium residences and 4,500 square feet of ground-floor retail. Deep foundation operations are more than 65 percent complete, and the site is moving toward its vertical phase. Carlos Vazquez of Nexos Invest arranged the financing, which will carry work through the foundation stage.

Crews have finished site mobilization and are advancing major underground utility installations. Structural foundation concrete work, including tower crane and elevator foundations, is expected to start within about two weeks.

The project sits across from the 16-acre Peter Bluesten Park, near Aventura. Units range from studios to three-bedroom layouts, and sales are handled by Fortune Development Sales with residences priced from $375,000. Amenities include a 30,000-square-foot amenity deck and a wellness center.

For developers and lenders, the deal shows that South Florida condo projects with secured foundation-phase financing are still attracting capital.