Palm Beach Gardens Developer Inks $77.5M Construction Loan
Abacus Capital secured a $77.5 million construction loan for what will be Arbor House, a 302-unit upscale project in Palm Beach Gardens. JLL Capital Markets arranged the four-year, floating-rate loan on behalf of the borrower through a publicly traded real estate investment company. JLL Capital Markets Mona Carlton, Joshua Odessky and Michael Romero led the Debt Advisory team that arranged financing on behalf of Abacus Capital Group.
Rising 13 stories at 11200 RCA Center Drive, Arbor House will feature units with studio, one-, two- and three-bedroom layouts averaging 956 square feet. Shared amenities will include a 7,000-square-foot deck on the eighth floor, wellness and fitness center, sauna, pool, working lounge on the ground floor and an eight-story parking garage with 480 spots.
Off Florida State Route 811, the development is 14 miles north of downtown West Palm Beach. Additionally, the site is surrounded by retail options, among which are Whole Foods Market, Publix Super Market and Trader Joe’s.
Attend Connect Southeast Multifamily on December 4th in Key Biscayne when the market experts share the playbook for where capital is moving next, and how the region’s power players are positioning themselves to stay ahead of the national curve. Be there to explore the opportunities, challenges, trends, and the future outlook for the multifamily landscape throughout Florida and the Southeast. www.ConnectSEMF2025.com
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout