Tricera Capital has obtained a $50.8 million loan for The Press, a mixed-use project in West Palm Beach.
The deal provides Tricera with the necessary funding to complete the redevelopment of the Palm Beach Post campus.
Located on more than 11 acres at 2751 S. Dixie Highway, The Press is an adaptive reuse project in which nearly all existing structures are being preserved. The property includes a 125,000-sq.-ft. retail component known as the Shops at The Press and an adjacent 140,000-sq.-ft. office building branded as Workspaces at The Press.
Miami-based Red Door Construction is the general contractor.