ALINA Residences Update 11/14/23

Kriss Capital Provides Construction Loan for Completion of Alina Residences



Kriss Capital, along with investment partner Klirmark Capital has provided a loan to Elad Group to finish the construction of the Alina Residences condominium project. The total loan of $200 million will provide the funds to complete the project and add $100 million to the bridge loan provided last year to get construction started. ALINA Residences is a condo development consisting of three 9-story towers that will yield 303 residential units. Phase one of the development is ALINA 200, a 9-story, 121-unit building. The other two buildings will be built in phase two, comprising 182 residential units. Amenities include a fitness center, a rooftop swimming pool, a spa, a bocce court, a dog park, an indoor and outdoor club room, and a business center.

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