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BOCA RATON, FL-BankAtlantic has completed a nearly $6.4-million loan to locally based Tuscany Village for the development of a townhome project in the city. The transaction was divided into two parts: first, almost $3.6 million of the loan is an A&D loan. The extra $2.8 million of the loan is a revolving construction loan. The financing is for a 37-unit, luxury townhome development.

The project will be situated on four acres of land located on Federal Highway, just north of Yamato Road. Units will be priced starting in the upper $400,000s. They will be sized from 2,000 sf under air and include two-car garages and elevators. The gated townhome community will be displayed in a courtyard design, including a community pool and gardens.

BankAtlantic is one of the biggest financial institutions based in Florida. The bank provides comprehensive banking services and products and has 73 branch locations throughout Florida.

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