Trump Group secures $558m for Florida condo project

Trump Group secures $558m for Florida condo project

Published at: 2018-10-08 15:04 | Author: CIJ USA
The Trump Group, which is not affiliated with President Donald Trump, has secured a $558m construction loan from Bank OZK to continue development of The Estates at Acqualina. The condominium tower is part of the company’s $1.5bn oceanfront condo project in Sunny Isles Beach, Florida. The development will feature common areas created by famed designer Karl Lagerfeld, whose affiliation with the project dates back to 2016. The project will feature 50,000 sq ft in community amenities and resident services, including a spa and fitness center, an ice-skating rink, bowling, a movie theater, golfing and Formula One simulators and a speakeasy club.

“Since launching The Estates at Acqualina, our clients have demonstrated excitement about this project resulting in strong pre-sales, and now their confidence is being matched by the banking community,” said developer Jules Trump. “We look forward to expanding the Acqualina brand with two towers defined by unmatched attention to detail, the highest caliber of design excellence and amenities and services that will be the ultimate in residential living.”

Similar Stories:

Delshah Capital buys Brooklyn property portfolio for $102m
Delshah Capital bought a 28-property portfolio in Brooklyn from Silvershore Properties for  »
Snell Properties buys Elysium Fourteen for $43m
Snell Properties purchased Elysium Fourteen, a mixed-use property in Washington, DC, for $  »
Penzance closes $255m real estate equity fund
Penzance has closed on its first real estate private equity fund. Generating a total equit  »
New York City’s 8th Avenue Chelsea Collection sells for $83m
A joint venture between Dalan Management Associates and Elion Partners has acquired eight  »