Related Ross seeks $26M sale-leaseback for Palm Beach County Convention Center hotel
Related Ross is moving forward with plans to bring a second hotel to the Palm Beach County Convention Center. The development firm, led by billionaire Steve Ross, is seeking a sale-leaseback deal with Palm Beach County, which would allow for the development of a 400-room Hilton Curio on the 1.8-acre site at 900 South Rosemary Avenue, the South Florida Business Journal reported. Under the proposed deal, Related Ross would sell the site to Palm Beach County for $26 million, then lease it back for 33 years with the opportunity to extend the lease to up to 99 years. In exchange, […]This article originally appeared on The Real Deal. Click here to read the full story.
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