CORAL GABLES, FL-Weitzer Communities has obtained a $32.4-million loan for construction of two of a trio of condominium projects the Fort Lauderdale-based company plans to build here. They are Villa Zamora, a 38-unit, five-story property at 118 Zamora Ave., and Villa Alhambra, a 36-unit complex Downtown at 32-50 Alhambra Circle. The last of the trio is Valencia Grande, which broke ground at 650 Valencia Ave. in the City's Biltmore district this January.

Wachovia Bank, which provided the funding, declined to disclose the terms. Of the total, $14.4 million is allotted to Villa Zamora, which is in the final pre-construction phase, with occupancy anticipated for this summer. Its two- and three-bedroom units range from 1,357 sf to 1,604 sf.

Calls to Weitzer were not returned by deadline. When the trio was unveiled, Jim Rosewater, a Weitzer partner and project director, told GlobeSt.com he anticipated a $19-million sell-out from the Villa Zamora units, which are priced between the $400,000s and $700,000s.

The $18-million portion of the funding is for Villa Alhambra, scheduled to break ground this spring. The four-story complex contains 24 single-level and 12 two-story townhouse units. They range from 1,157 sf to 2,860 sf and pricing begins in the $400,000s and reaches just above $1 million, and Rosewater estimates a $23-million sell-out. Sell-out for the five-story, 32-unit Valencia Grande, yet to break ground, is estimated at $25 million.