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Royal Palm Companies Obtains $77 Million Loan for Multifamily Project in Dania Beach

Royal Palm Companies secured a $77 million construction loan to finalize the building of an eight-story multifamily property in Dania Beach. Once complete, Elevate Apartments will boast 293 apartments featuring a resort-style swimming pool, dog park, fitness center, business center, resident coworking space, and a rideshare pick-up and drop-off lounge.         

Royal Palm Companies is partnering with developer Rafael Pecchio on the project. Elevate Apartments will have studio, one- and two-bedroom units ranging in size from 700 to 1,000 square feet, with ocean and nature preserve views. The 560 E. Dania Beach Blvd. property broke ground in the fourth quarter of 2021 and is approximately 45% completed.

3650 REIT provided the financing, which will go towards the completion of the project. The loan was originated by 3650’s Bridge and Event Driven platform and carries a term of 36 months. Kevin O’Grady, managing director of Concord Summit Capital, arranged it. 

Royal Palm Companies has developed or repositioned more than 6,000 units across 50 projects in Florida and has a $3.5 billion portfolio.

Photo courtesy of Royal Palm Companies

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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.