August 23, 2019
Chicago-based investment firm Pearlmark has closed on a $44.6 million preferred equity investment for the development of Atlantic Crossing, a mixed-use project in Delray Beach. The project will contain 261 units and 91,000 square feet of office and retail space, as well as 444 structured parking spaces.
The investment was originated by Pearlmark and made on behalf of Pearlmark Mezzanine Realty Partners IV. The developer is the Edwards Companies of Columbus. Mark Witt of Pearlmark arranged the transaction.
“We view this project as an opportunity to invest in a high-quality development located in the heart of vibrant downtown Delray Beach,” said Witt. “Additionally, Edwards is a very strong sponsor with significant development experience.”
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