Michael Dell’s firm lends OKO, Cain another $55M for Palm Beach condos

Billionaire Michael Dell’s BDT & MSD Partners provided an additional $55 million loan to OKO Group and Cain International for their planned Palm Beach condos. The loan will fund the predevelopment phase of the three-building project planned for 2720 and 2730 South Ocean Boulevard in Palm Beach, a spokesperson confirmed. OKO and Cain bought the 4.9-acre site of the former Ambassador and Edgewater hotels for $146.6 million in 2022, with a $105 million mortgage from Dell’s MSD Capital.  Dell is the founder and chairman of Dell Technologies. He has an estimated net worth of $132.6 billion. BDT & MSD is […]This article originally appeared on The Real Deal. Click here to read the full story.