Construction financing has been secured for Waldorf Astoria Residences Pompano Beach, a forthcoming 28-story oceanfront condominium tower poised to rise along the Broward County coastline. The $160 million loan was issued by Bank OZK to support the project’s vertical construction. The development is being led by Related Group and Merrimac Ventures in collaboration with hospitality brand Hilton, which will oversee residential operations under the Waldorf Astoria name.
Marking the first-ever standalone residential property in Waldorf Astoria’s century-long history, the tower will contain 92 condominium residences and is slated for completion in 2027. According to the development team, the project is now over 70 percent sold.
“This financing marks a pivotal milestone for The Residences and the vision we’ve long held for this iconic oceanfront site,” said Dev Motwani, CEO of Merrimac Ventures. “This property location, design and unmatched lifestyle offerings have resonated with buyers, quickly propelling us past 70 percent sold in a remarkably short timeframe.”
Designed by Nichols Architects in collaboration with KORA, BAMO, and Enea Landscape Architecture, the tower will rise from a two-acre parcel of beachfront land. Homes range from two to five bedrooms, spanning approximately 2,100 to 6,100 square feet. Each unit will include private elevator access, floor-to-ceiling windows, and oversized balconies with views of the Atlantic Ocean and Intracoastal Waterway.
“The Residences combine the legendary service and sophistication of the Waldorf Astoria resort properties with the comfort and security of private ownership,” said Nick Pérez, President of Related’s Condominium Division. “It’s a no-compromise lifestyle that immerses residents and caters to their every wish.”
Amenities include a 20,000-square-foot oceanfront pool deck, an on-site spa with treatment rooms and sauna facilities, a state-of-the-art fitness center and movement studio, a ground-floor restaurant, a multi-sport simulator, and spaces for entertainment and children’s programming. The building will also showcase a curated selection of artworks from the Jorge M. Pérez Contemporary Art Collection.
“Bank OZK is excited to expand upon our strong relationships with both Related Group and Merrimac Ventures, along with the sponsorship of an industry leader like Hilton, for this extraordinary development,” said Greg Newman, Senior Managing Director of Originations at Bank OZK. “We look forward to seeing how this landmark project enhances Pompano Beach’s coastal legacy and growing prestige.”
In addition to the tower’s core residences, the project includes four penthouse homes priced from $16 million to $20 million. Each offers 70 linear feet of ocean-facing frontage, wraparound terraces, and, for the top-floor units, rooftop decks with private pools and enclosed entertaining areas.
Once complete, the property will also include 200 feet of private beachfront access and a marina offering nearly two dozen boat slips.
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