Madison Realty Capital has provided a $225 million construction loan on The Residences at Mandarin Oriental, Boca Raton, a planned 12-story, 580,000 s/f luxury condominium tower in Boca Raton, Florida.
The financing will allow owner/developer Penn-Florida Companies to complete the 12-story, 288,000 square-foot luxury condominium tower with an additional 22,000 s/f of retail.
This will be the third and final tower at the two million-square-foot Via Mizner resort in the heart of the Southeast Florida community.
The construction of the condominium tower commenced several months ago along with the new 164-room Mandarin Oriental Hotel, which will give condo owners access to the hotel and Via Mizner’s amenity package.
The condominium will join a growing list of nearly 20 current and upcoming The Residences at Mandarin Oriental properties located from Bali to Bangkok, Moscow to Munich.
The Residences at Mandarin Oriental, Boca Raton will offer 92 custom homes with ocean and golf course views. The Residences will be connected to the Mandarin Oriental Hotel by way of a two-story underground parking garage as well as an upper-level bridge featuring a fitness center, spa and meeting space.
In addition to the hotel and condo components, Via Mizner will include a 366-unit luxury apartment building and 60,000 s/f of retail.
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