WEST PALM BEACH, FLA. — Tortoise Properties LLC has obtained an $88.5 million construction loan for a new multifamily development in downtown West Palm Beach. Acore Capital provided the loan to Tortoise, a privately held developer based in Palm Beach County. The unnamed property will comprise two eight-story towers located at 740 and 840 N. Dixie Highway that will be connected via a skybridge over Eucalyptus Street. The luxury apartment community will feature 264 studio, one- and two-bedroom residences, as well as 3,400 square feet of retail space and 371 parking spaces. The project team includes architect MSA Architects, general contractor Verdex Construction, landscape architect EDSA, project manager Hensel Phelps, civil engineer Keshavarz & Associates, structural engineer McNamara Salvia, general engineer WGI, property manager Castle Residential and entitlements and permitting overseer Managed Land Entitlements. No construction timeline was disclosed.
Tortoise Properties Obtains $88.5M Loan for Apartment Development in West Palm Beach
