Connect CRE Highlights $269M Build Loan for Mixed-Use in Lake Park

Forest Development, Royal Palm Companies Close $269M Build Loan for Mixed-Use in Lake Park

By: Lisa McDuffie

Boca Raton, FL-based Forest Development has engaged in a joint venture partnership with Royal Palm Companies for Nautilus 220, a mixed-use development comprised of 330 condominium residences in two 24-story towers with restaurants, retail, and offices alongside a marina on Lake Shore Drive in Lake Park, FL.

In addition, a $269-million construction loan from Fortress Investment Group LLC has closed for Nautilus 220, with financing arranged by Justin Morrow and Kevin O’Grady of Concord Summit Capital. Luis Flores, Anthony Kang, and Rick Carroll of Saul Ewing LLP represented Forest Development.