May 10, 2020 Comments Off on Related, Rockpoint JV Snags $69M Loan for Boca Raton MF Development Views: 1024 Florida News, South Florida

Related, Rockpoint JV Snags $69M Loan for Boca Raton MF Development

Order Reprints...

Miami-based The Related Group and Rockpoint Group plan to break ground on a Boca Raton apartment community called the Manor at Broken Sound. The development JV secured a $68.83 million construction loan from Wells Fargo Bank.

The project is slated to rise on an 11.5-acre site at 5400 Broken Sound Blvd. in the Park at Broken Sound business park, which was rezoned to include a mix of uses. The development is planned to include 261 apartments and 36 townhouses, along with such amenities as a pool, fitness center, saunas, spa, business center, lounge and two courtyards.

The JV acquired the property last year for $20 million and subsequently demolished an existing office building on the site. Construction is expected to commence on the apartments in the coming weeks and span roughly 18 months.

Connect With The Related Group

Connect With Rockpoint Group


Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , ,

Comments are closed.

Send this to a friend