Related Ross has secured a $772 million construction financing package for two new office towers at CityPlace in downtown West Palm Beach, marking both the largest financing transaction in the firm’s history and the largest construction loan ever recorded in Florida. The financing was led by Ares Real Estate funds, with Monarch Alternative Capital and HPS Investment Partners also participating. Eastdil Secured, LLC served as the exclusive financial advisor. Proceeds will fund development of 10 CityPlace and 15 CityPlace, two office towers planned at the center of the CityPlace district.

Florida YIMBY has an update regarding Ponce Park, a venture that’s been evolving for more than five years.

Virginia-based AvalonBay Communities has plans for a mixed-use development in Miami.

CMC Group has completed Vita at Grove Isle, a 7-story boutique waterfront condominium located on the private island of Grove Isle in Miami’s Coconut Grove neighborhood. Following the issuance of a Temporary Certificate of Occupancy, unit closings are now underway at the development, which contains 65 condominium residences.

A Miami Lakes-based developer is proceeding with a residential project in Davie.