Uptown Boca Partners Close On $125.65 Million Construction Loan

Mar 07, 2019 No Comments by

Giles Capital Group, Rosemurgy Properties and Schmier Property Group in partnership with Wheelock Street Capital announced the closure of a $125 million construction loan for Uptown Boca. The transaction was brokered by Elliott Throne and Steven Klein from HFF. Jutland Finance Inc. provided financing for the project, which will bring more than 1 million square feet of new retail with residential development to Boca Raton.

Situated on a 38-acre site in west Boca Raton, Uptown Boca will feature 171,806 square feet of upscale retail space and 456 Class A luxury apartments. Confirmed tenants include Lucky’s Market, Silverspot Cinema, Chick-fil-A, Bolay and BurgerFi. The center is the last undeveloped parcel located off Glades Road, Boca Raton’s main east/west thoroughfare and retail corridor. The retail component is expected to deliver in late 2019 with the residential component available in early 2020.

 

“Uptown Boca is creating a center that will become an integral part of the west Boca community,” said Rick Giles, CEO of Giles Capital Group. “As west Boca’s first retail and apartment development in over 20 years, Uptown Boca will bring much-needed new dining, entertainment and living options to the area. We are extremely grateful for Jutland Finance’s confidence in our project and our goal of bringing an exciting destination to the community.”

Uptown Boca offers one, two, three and four-bedroom units. The apartments create a convenient lifestyle for its residents by offering unparalleled amenities including a 24-hour fitness and business center, yoga, spin and stretching room, gaming and theater room, zero edge pool, ride sharing lounge and an outdoor summer kitchen. The building also includes a resident lounge, kids play area and dog park and lounge.

 

 

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