fbpx

Brand Atlantic and Wheelock Street Captial Secure Construction Loan for West Palm Beach Development

Brand Atlantic Real Estate Partners and Wheelock Street Capital partnered to finalize an $87 million construction loan with Acore Capital for their development of two boutique Class-A office buildings located in the Clematis Waterfront District in West Palm Beach. Plans for 300 Banyan and 111 Olive include over 125,000 square feet of Class A office space, private outdoor terrace space and a 300-space parking garage.

The financing provides funding for the renovation of 111 Olive, which includes 27,000 square feet of office space and 11,000 square feet of retail space to be delivered by year-end. It also funds the vertical construction of 300 Banyan, a 12-story tower with 115,000 square feet of office space and 6,000 square feet of ground floor retail, to be delivered in early 2024.

“Securing this loan with a great lender in Acore Capital further supports our conviction in the West Palm office market and affirms, particularly in this challenging environment, that Banyan & Olive is a best-in-class development,” Andrew Dance says, managing partner of Brand Atlantic. 

Banyan & Olive aims to offer tenants a turnkey workplace that fosters collaboration and productivity in a variety of settings, both indoor and outdoor, with a level of luxury and convenience superior to working from home. Featured building amenities include floor-to-ceiling windows with expansive water views, 15,000 square feet of private office terraces, a golf simulator lounge and a 7th-floor amenity loggia boasting an indoor/outdoor fitness center and an open-air lounge with water views, shaded seating groups, and lush landscaping. 

“We’re proud to be taking the next steps to bring this project to the West Palm Beach community,” Hunter Jones says, Principal at Wheelock Street Capital. “This project marks the first construction of Class-A office space in the area in decades, and we are excited to be a part of it.”

Newmark’s Debt and Structured Finance team, led by Dustin Stolly and Jordan Roeschlaub, secured the loan on behalf of ownership from Acore Capital.

“West Palm Beach has become one of the strongest growth markets in the country, recently driven by financial and technology firms permanently relocating or expanding to what was historically a seasonal outpost,” Dustin Stolly says, Vice Chairman of Co-Head Capital Markets Debt and Structured Finance for Newmark. “The Sponsorship team has the perfect design to capture the live/work/play demand trends of the area and an aesthetic that will lift the neighborhood to new heights.”

 

You May Also Like
Broward College Hosts Pickleball Tournament

The event will raise funds for scholarships, educational programs and student resources.

Read More
Broward College Pickleball Tournament
Amerant Bank Appoints Jesse Flowers as Palm Beach Market President

The company plans to open its third Palm Beach banking center and regional office set to open in 2025.

Read More
Amerant Bank Jesse Flowers
Hyundai Air & Sea Show Set to Make a Splash in Miami Beach This Memorial Day Weekend

It is one of the largest gatherings of military equipment in the country.

Read More
Model UN Team From American Heritage Schools’ Broward Campus Receives Top Honors 

17 of the 35 participating students received Best Delegate Awards in their respective committees, while 23 earned individual accolades. 

Read More
Other Posts
Former Celebrity Cruises CEO to Lead World Cup Locally

The host committee is also enlisting the support of a historic alliance of South Florida leaders.

Read More
Humane Society of Broward Hosts Annual PAWS Gala

The Lotus Blossom Ball event will be held on April 27.

Read More
American Heritage Schools’ Palm Beach Campus Wins Top Prize at Palm Beach Regional Science Exhibition

American Heritage Schools achieved yet another remarkable victory at the Palm Beach Regional Science and Engineering Fair held at Safe Schools Institute in Boca Raton. For two years, 15 of the 30 high

Read More
Mothers Against Drunk Driving Holds Annual Walk Like MADD & MADD Dash Fort Lauderdale

The event is held in over 90 cities in the U.S.

Read More

Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.