Berkadia Arranges Sale Of Boutique Townhomes In Palm Beach County
The deal illustrates investor appetite for Build-to-Rent (BTR) product in land-constrained South Florida.
The deal illustrates investor appetite for Build-to-Rent (BTR) product in land-constrained South Florida.
She will focus on guiding capital improvement projects for condominium communities across the region.
The project spans 43 acres and brings a vibrant mix of residential, retail, and office space to the growing Congress Avenue corridor.
The multi-phase project will encompass approximately 2.5 million square feet of new commercial, residential, and hotel product once complete.
The development consists of 26 three-story, garden-style buildings with private detached garages and carports and 55 townhomes with private two-car garages.
The project will consist of a mixed-use retail and office, restaurant outparcels, a daycare and early learning center, as well as a 3-level parking garage.
The approved site plan encompasses over 405,000 square feet of office space in two buildings, four new retail and restaurant outparcel buildings totaling nearly 43,000 square feet, a nearly 37,000-square-foot luxury fitness facility and 500 multifamily units.
Newmark’s Matthew Williams, Daniel Matz, James Maynard, Kyle Schlitt and Robert Wright secured the bridge loan from Ladder Capital on behalf of buyer Safe Harbor Investments, LLC.
The sales, announced in mid-January 2025, reflect the growing demand for well-maintained and strategically located apartment communities in both established and emerging markets across the state.
JLL’s Seniors Housing Capital Markets team procured the buyer, AEW Capital Management, and secured the three-year acquisition loan through Capital One Bank on behalf of the buyer.
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