AHS Residential announces it has closed on financing for AHS Harbor Grove, a 324-unit apartment community located in Stuart, and AHS Tradition, a 372-unit apartment community located in the nearby city of Port St. Lucie, Florida.
Ocean Bank of Miami provided a $37.9 million loan for construction of AHS Harbor Grove. Regions Bank of Miami provided a $43.5 million loan for AHS Tradition. Both communities will be delivered in the summer of 2022.
AHS Residential currently controls and operates over 2,500 apartments in Florida, and recently expanded into Georgia and Texas, with the goal of delivering up to 5,000 apartments annually by 2025. The company is on a mission to help solve the U.S. housing crisis by building high-quality apartments in growing metros where many renters are getting priced out by rising rents.
“The ongoing influx of people to Florida, and the migration of residents from more congested areas in South Florida, has added to Stuart and Port St. Lucie’s desirability. We’re delighted to be able to provide modern, high-quality apartments at an attainable price point to this rapidly growing region of Florida.”
CEO of AHS Residential
“The ongoing influx of people to Florida, and the migration of residents from more congested areas in South Florida, has added to Stuart and Port St. Lucie’s desirability, and demand for rental homes is on the rise,” said Ernesto Lopes, CEO of AHS Residential. “We’re delighted to be able to provide modern, high-quality apartments at an attainable price point to this rapidly growing region of Florida.”
Located at 3250 Southeast Commerce Avenue in Stuart, AHS Harbor Grove will be a gated community consisting of nine buildings on a 14-acre site with convenient access to U.S. 1 and Florida’s Turnpike. Located at 11780 SW Village Parkway in Port St. Lucie, AHS Tradition will introduce garden-style apartments to the 8,300-acre master-planned community of Tradition, which has single-family homes, medical centers, schools, parks and recreational trails. It is close to Interstate 95, the Florida Turnpike, and the Treasure Coast Connector bus system.
Both communities will offer one- and two-bedroom apartments with 10-foot-high ceilings, open floor plans, kitchens with stainless steel appliances, modern cabinetry and granite countertops, stylish vinyl plank flooring, central AC, in-unit washer and dryer, and a private balcony or patio. The gated, pet-friendly communities will also offer amenities such as a multipurpose clubhouse, 24-hour fitness center, swimming pool, children’s play area, and parking. Additionally, all AHS Residential properties offer onsite management, 24-hour emergency maintenance, a 30-day move-in satisfaction guarantee, and special pricing for first responders, healthcare, and education professionals.