Olara Residences Update 03/23/23

Developer Secures $50M Construction Loan For Olara Residences in West Palm Beach, Fl 

A New-York based developer has been granted a $50 million construction loan to build their first south Florida venture. Madison Realty Capital funded the loan which includes a $5 million mezzanine loan and $50 million to fund the construction. Olara Residences will feature two, 26-story structures offering 275 residential units, and a 30,000-square-foot grocery store and restaurant on the ground floor. The project will also feature an 80,000-square-feet amenities deck on the sixth floor and a private marina by the Intracoastal Waterway.

The project is scheduled to be completed by 2026. 

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