Steve Ross scores $772M loan for West Palm office projects
Steve Ross, the billionaire focused on turning West Palm Beach into a financial and tech business mecca, scored a record $772 million construction financing package for two office projects. The deal is the biggest known construction loan ever in South Florida, and likely statewide. It comes amid looming questions about the long-term health and success of the tri-county region’s office market. Ross, through his Related Ross, is developing the 23-story 10 CityPlace and 26-story 15 CityPlace on a portion of the CityPlace mixed-use retail complex in downtown West Palm. Ares Real Estate funds, part of Los Angeles-based Ares Management, led […]This article originally appeared on The Real Deal. Click here to read the full story.
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