Related, Merrimac Close on $160M Pompano Beach Financing
Related Group(Related) and Merrimac Ventures, alongside Hilton, announced the closing on $160 million in construction financing from Bank OZK for Waldorf Astoria Residences Pompano Beach (The Residences). The project marks the Waldorf Astoria’s first-ever standalone residential development.
Set on two acres of oceanfront, The Residences will offer 92 condominium homes and a suite of resort-style amenities and personalized services managed directly by Waldorf Astoria.
The 28-story tower comprises homes spanning 2,100 to 6,100 square feet, with two to five bedrooms. The venture boasts a 20,000-square-foot oceanfront pool deck, a private spa, an outdoor bar and dining lounge, and summer kitchens. Residents can also access 200 linear feet of beachfront and a private marina with nearly two dozen boat slips.
The Residences offer a fitness center, as well as an on-site spa with private treatment rooms and his-and-hers sauna and steam rooms.
True to the Waldorf Astoria tradition of exceptional hospitality, the property’s signature 24/7 resident services include in-residence dining, a personalized concierge, and dedicated beach and poolside service.
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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