Madison Realty Capital Refinanced Arcadian Development
The firm secured a $127 million loan for the 502-unit apartment complex in Fort Lauderdale.
Updated on Oct. 2, 2026 in Commercial
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Madison Realty Capital has provided a $127 million refinancing loan for the Arcadian multifamily development in Fort Lauderdale. This transaction replaces an existing $84.5 million construction loan issued by Centennial Bank in 2024.
Why it matters
The refinancing supports the Arcadian during its current lease-up phase as it moves toward stabilization. The development adds 502 residential units to the Sistrunk District with a component of income-restricted housing.
The Arcadian complex features 502 units across two eight-story buildings, including 15,000 square feet of retail space and a 629-spot garage. Additionally, 151 units are reserved for residents earning between 100 and 120 percent of the area median income.
The players
Madison Realty Capital
This is a real estate investment firm that provides debt and equity capital solutions for commercial property developments.
Fort Lauderdale Community Redevelopment Agency
This is a municipal entity focused on the economic revitalization and urban improvement of specific districts within the city.
Centennial Bank
This is a regional financial institution that provides commercial lending services and construction financing for large-scale real estate projects.
The details
Located at 640 Northwest Seventh Avenue, the property benefited from $10 million in funding from the Fort Lauderdale Community Redevelopment Agency, including an $8 million forgivable loan. The transaction was facilitated by brokers Scott Wadler, Brad Williamson, Bobby Dockerty, and Nicholas Horowitz.
Timeline
Centennial Bank issued the original $84.5 million construction loan in 2024.
The Arcadian received a temporary certificate of occupancy earlier in 2026.
Madison Realty Capital issued the $127 million refinance in October 2026.
Culture Shift
The financing reflects the transition of new multifamily projects from construction to the post-construction lease-up and stabilization phase. This lifecycle move is a standard progression for large urban developments as they shift from development to operational revenue generation.
The stabilization of the Arcadian increases housing availability in the Sistrunk District for a range of income levels. Local residents may see continued development and increased foot traffic as the property completes its lease-up phase.
The takeaway
Commercial real estate refinancing provides developers with the stability needed to transition projects into fully occupied residential assets. This deal highlights the role of public-private partnerships in securing affordable housing units within new developments.
Further reading
Learn more about the latest projects in the Fort Lauderdale Commercial sector.
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Do you believe new developments in your community provide enough housing options for local residents?
