ATLANTIC AMERICAN FORTUNE FUND II
Atlantic American Fortune Fund II raised $37,500,000 from 75 EB-5 investors, creating a diversified portfolio of four assets, including two major chain hotels supporting the Ft. Lauderdale International Airport and two multifamily apartment communities – one in the Tampa Bay area and one in downtown Orlando.
Wyndham Garden Ft. Lauderdale Airport
Fortune Fund II made a $5,500,000 equity investment in Wyndham Garden Ft. Lauderdale Airport & Cruise Port, a 142-room limited service hotel to be located in Dania Beach, Florida. The project intends to capitalize on the 25 million annual passengers that travel through the Ft. Lauderdale-Hollywood International Airport, which is less than one mile away. In addition, Port Everglades – one of the top three cruise ship ports in the world – is less than two miles away.
Learn more about Wyndham Garden Ft. Lauderdale Airport & Cruise Port here.
Fortune Fund II made a $12,500,000 investment in Meres Crossing, a 236-unit garden style apartment community in Tarpon Springs, Florida.
Meres Crossing will offer one-, two- and three-bedroom units, priced in line with the current rental rates of the market area. The Project’s apartment units will be housed in five, three- and four-story garden style buildings.
Common area amenities include a resort-style clubhouse, fitness center, playground/tot lot, secure bicycle storage/repair room, green spaces with pavilions, and a resort-style swimming pool.
Ecco on Orange
Fortune Fund II made a $14,000,000 investment in the Ecco on Orange, a 300-unit apartment community located just south of Orlando, Florida’s downtown central business district. The project consists of a single five-story building, wrapped around a 530-space parking garage.
The Project features a rooftop pool, state-of-the-art fitness center and extensive amenities. The Project also contains a multi-level lobby complete with a cyber café, and expansive resident lounge and game room. The design of the building provides for two interior courtyards which feature lush landscaping, community gathering areas and amenities.
TRU by Hilton Ft. Lauderdale Airport
Fortune Fund II made a $5,500,000 investment in the TRU by Hilton Ft. Lauderdale Airport, a 115-room hotel to be located in Dania Beach, Florida.
The Project is located on Federal Highway and is less than a mile from the Fort Lauderdale – Hollywood International Airport and two miles from Port Everglades.
Major demand drivers for the Project are the expansions of both the airport and the port. A $2.4 billion airport expansion is currently underway, and as a result the airport is expected to handle 35 million passengers annually by 2020. The port expansion is ongoing and is projected to bring an additional 7,000 new jobs to the area over the next 15 years.
The TRU by Hilton brand occupies the mid-scale market and targets business travelers as well as tourists.
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