Penn-Florida Companies announced a $225-million construction loan for residential tower in Boca Raton.
The construction loan from Madison Realty Capital, will be utilized to complete The Residences at Mandarin Oriental, the third and final tower at Via Mizner, a 2,000,000 sq. ft. urban resort.
The Residences at Mandarin Oriental will offer a collection of 92 custom homes consisting of 288,000 sq. ft., framed by ocean and golf course views.
Construction of The Residences is scheduled to be completed in less than two years simultaneously with the new Mandarin Oriental Hotel.