Related Ross Inks $157M Construction Loan for West Palm Beach Condos
Related Ross started work on Shorecrest, a condominium development in West Palm Beach. Rising 28 stories along Flagler Drive, completion anticipated in 2027. On the heels of securing $157 million in financing from GoldenTree Asset Management, construction is commencing on the 98 residences located at 1865 North Flagler Drive. The architect is Roger Ferris + Partners.
The development will include two- and three-bedroom residences that includes 18,000 square feet of amenities. Residents will enjoy a golf simulator, executive meeting spaces, a residents-only Lifestyle Director, a game lounge, and a private dining room for gatherings. A rooftop pool deck is centered around a 75-foot lap pool and enhanced by a hot tub, cold plunge, and dedicated his-and-hers spa facilities with separate sauna and steam rooms.
Other News
RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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Pasadena Offices Sell for Residential Conversion
NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
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Berkadia Negotiates Student Housing Property Sale in Kansas
Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...
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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