Concord Summit Capital, LLC (Concord Summit) arranged a $16 million bridge loan to refinance and expand the Bed Bath & Beyond Plaza located at 14802 South Military Trail in Delray Beach, Florida. The sponsor, Berta Management of Florida, will use the money to construct a new Starbucks store, provide for capital improvements and pay off existing debt.
Soltura at East Terry is coming to Bonita Springs, Florida. The “small little homes” will sit on 20 acres, according to Naples Daily News. The community will comprise horizontal apartments measuring two stories above grade.
An obstruction evaluation study is currently underway at the Federal Aviation Administration (FAA) for a 454-foot-tall skyscraper at 1000 North Orange Avenue in the northern section of Downtown Orlando’s Central Business District. The four coordinates submitted to the FAA align with a vacant 1.474-acre site that sits on the southwest frontage of the intersection between North Orange Avenue and North Garland Avenue, also bound by West Marks Street and SunRail tracks on the south end of the block. According to the Orange County property records, the land is owned by a Hallandale Beach-based entity registered as Mustang Orange Garland LLC (Mustang) managed by Aaron Churba and Mike Daiagi. The entity, which is linked to a number of other financial and investment entities using the Mustang moniker, has owned the property since January 2005 after purchasing it from Orange Garland Realty Ent LLC for a $3,000,000.
Icon Marina Village is continuing construction in West Palm Beach, Florida. The community comprises two high-rise buildings, offering 399 luxury units. Balfour Beatty Construction, the general contractor, broke ground on the development in April 2021. In total, the project will cost $107.4 million to build.
Having worked in the region for many years, leading global architecture firm Arquitectonica has announced the opening of their office in Rosemary Square. Located at 477 South Rosemary Avenue in Downtown West Palm Beach, the office provides close accessibility to the firm’s ongoing projects in design and under construction. This work has served to reinforce their commitment to growing a presence in the region and establishing the new location helps support the firm’s capabilities in Florida that also includes projects in Orlando, Tampa and Jacksonville.
