The Estate Companies, Merrimac Ventures and Tricera Capital have secured a $56 million construction loan for Soleste Cityline, a multifamily development planned in Dania Beach. The loan was provided by Synovus Bank and the development partnership plans to break ground by the end of Q1 2021. The 2.2-acre site was acquired in September 2020 for $8 million. The Estate Companies is a subsidiary of Estate Investments Group (EIG), Merrimac Ventures is led by Dev Motwani and Tricera Capital is led by Scott Sherman.

Soleste Cityline was designed by Caymares Martin. The development will be located at 4 N Federal Highway and will rise 8 stories featuring 340 apartments with 12,800 square feet of retail. Units will range from roughly 600 square foot studios to 1,200 square foot three-bedroom floor plans. Amenities will include a pool deck with grilling stations, fitness center, community room and private event space. Upon expected completion in 2023 the retail portion will be owned by Merrimac Ventures and Tricera Capital, both firms have been very active developing and acquiring retail properties in South Florida.