Steve Ross scores $772M loan for West Palm office projects
Steve Ross, the billionaire focused on turning West Palm Beach into a financial and tech business mecca, scored a record $772 million construction financing package for two office projects. The deal is the biggest known construction loan ever in South Florida, and likely statewide. It comes amid looming questions about the long-term health and success of the tri-county region’s office market. Ross, through his Related Ross, is developing the 23-story 10 CityPlace and 26-story 15 CityPlace on a portion of the CityPlace mixed-use retail complex in downtown West Palm. Ares Real Estate funds, part of Los Angeles-based Ares Management, led […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Tribal knowledge built this business. It can’t carry it.
The timing tax: How America’s rent calendar punishes the workers it should protect
Why your best agents leave (and the conversations you should be having now)
How much will mortgage rates fall with the Iran deal and Fed week?
Inside the Biggest Celebrity Real Estate Dramas—From Ivanka and Jared’s $1.4 Billion Resort Uproar to Katy Perry’s Montecito Mansion Fight
The $5,000 Hidden Summer Fee Owners of Older Homes Forget To Budget For
Louisville Sees 33% Surge in Homes on Market as Sellers Flood Back In
South Florida Dirt: Inside the first week of broker George Pino’s trial
Glass-Walled House Perched on a Giant Lakeside Rock Makes It Feel Like You’re ‘Living in the Water’
Why the Luxury Golf Club Lifestyle Has Become the Ultimate Real Estate Status Symbol
GET MORE INFORMATION
Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131