Monroe Capital

Pebb Capital Secures $173M Construction Loan For ‘Sundy Village’ At 22 W. Atlantic Avenue In Downtown Delray Beach

Pebb Capital has secured a $173 million construction loan from Monroe Capital & J.P. Morgan for Sundy Village, a mixed-use development spanning approximately seven acres in the heart of Downtown Delray Beach. Following its groundbreaking in early 2023 and with delivery anticipated for summer 2024, this announcement marks another milestone for what will be the most unique, fully-amenitized lifestyle destination in the Atlantic Avenue District.

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FAA Approves Height For Planned Towers At 700 North Miami Avenue In Miami Worldcenter

The Federal Aviation Administration (FAA) has given the green light for a significant mixed-use development project at 700 North Miami Avenue at Miami Worldcenter, the former site of the Miami Arena, and canceled Marriott Marquis Miami Worldcenter Hotel & Expo Center. Designed by Kobi Karp Architects with Kimley-Horn as the traffic engineer and developed by an affiliate of New York-based Witkoff Group and Chicago-based Monroe Capital, the development is planned to yield nearly 3.4 million square feet of space across three towers spanning as many as 57 stories.

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Witkoff Group Initiates Pre-Application For 700 North Miami Avenue At Miami Worldcenter

A pre-application has been initiated for an administrative site plan review with the Miami-Dade County Department of Regulatory and Economic Resources for 700 North Miami Avenue, the site of the cancelled Marriot Marquis Miami Worldcenter and the former location of the Miami Arena (demolished in 2008). The application lists WG 700 North Miami LLC, an entity owned and managed by New York City-based Witkoff Group, as the owner of the application, and reveals Miami-based Kobi Karp Architects is leading the design for the project. Plans for the 4.7-acre site consists of three 57-story mixed-use buildings with up to 2,195 residential units, 540,000 square feet of office space, and 49,999 square feet of retail space. Witkoff, along with Chicago-based Monroe Capital, acquired the property for $94 million from MDM Group in July of last year.

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