Related Ross buys 124-acre former IBM campus in Boca Raton
Steve Ross’ Related Ross bought the massive Boca Raton Innovation Campus, expanding the billionaire developer’s reach into another pocket of Palm Beach County. The 124-acre former IBM headquarters comes with developer entitlements for a “micro-city.” The value of the sale hasn’t been made public. Ares Commercial Real Estate Services provided a loan for the acquisition, according to a news release, but the amount wasn’t disclosed. The seller, an entity linked to Boca Raton-based CP Group, paid $320.2 million in 2021 for the campus, known as BRiC, property records show. Related plans to maintain the enormous office and tech building while […]This article originally appeared on The Real Deal. Click here to read the full story.
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