CEDARst Companies

CEDARst Companies is an integrated real estate developer and operator headquartered in Chicago, Illinois, with additional regional offices in San Diego and Miami. The firm's core business revolves around the development, acquisition, and management of multifamily housing, with a mission to deliver design-driven, experiential communities that enhance local environments. Utilizing a vertically integrated approach, CEDARst oversees projects from sourcing and acquisition to construction, management, and hospitality services.

The company's services encompass development, construction through its in-house Method Construction arm, and property management under the FLATS® brand, which emphasizes luxury amenities and refined apartments at accessible price points. CEDARst focuses on urban and infill markets across eight U.S. states, including major metropolitan areas like Chicago, San Diego, Portland, Minneapolis, Cleveland, Las Vegas, and South Florida. Its portfolio includes over 10,000 residential units developed, acquired, or under construction, representing a total asset value exceeding $4 billion.

Co-founded by Alex Samoylovich, Will Murphy, and Mark Heffron, CEDARst Companies is recognized for its disciplined underwriting, design-led development, and operational execution. Alex Samoylovich also founded Livly, Inc., a property technology company, and Proper., a national residential property management platform, which complement CEDARst's integrated approach. Recent activities include expanding its Chicago portfolio with a $66 million West Loop multifamily project, breaking ground on an $82 million community in Las Vegas, and securing a $68.5 million construction loan for a Fort Lauderdale project. The company also acquired a 47-story residential tower in Chicago in partnership with Kayne Anderson Real Estate.

Latest updates

CEDARst Secures $68.5M Loan for $100M Fort Lauderdale Opportunity Zone Project

Event summary

  • CEDARst Companies, co-founded by Alex Samoylovich, began construction on Flats Flagler Gateway, a 215-unit multifamily development in Fort Lauderdale, Florida.
  • The project is capitalized with $100 million, including a $68.5 million construction loan from North River Partners and Amzak Capital Management.
  • Construction is slated to begin in May 2026, with completion expected in mid-2028.
  • The development is located within a federally designated Opportunity Zone and will include a mix of market-rate and workforce housing.

The big picture

CEDARst's move underscores the continued institutional interest in Florida's multifamily sector, particularly within Opportunity Zones. The firm's focus on design-driven, community-centered projects, combined with its expertise in navigating complex tax structures, positions it to capitalize on the ongoing migration patterns and housing demand in the region. This project expands CEDARst’s portfolio to over $4 billion in delivered and active developments.

What we're watching

Opportunity Zone Compliance
The project's success hinges on CEDARst's ability to maintain strict compliance with Opportunity Zone regulations to ensure tax benefits for investors, which could be impacted by future legislative changes.
Market Saturation
Fort Lauderdale's competitive multifamily market, while currently favorable, could experience increased supply, potentially impacting rental rates and occupancy for Flats Flagler Gateway.
Interest Rate Risk
The project's financing is sensitive to interest rate fluctuations, and rising rates could compress margins and impact the project's overall profitability.
CID: 1351