stephen ross‘s new namesake venture has refinanced a convention center hotel in downtown West Palm Beach, Fla., with debt rising to $150 million, real estate records show.
related losses Secured variable rate financing for 400 rooms Hilton West Palm Beach Property according to mortgage documents. new $150 million loan from BDT and MSD partners It replaces a $105 million loan dating back to 2018.
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Affiliated companiesThe company Ross founded and led until last year developed the 310,506-square-foot building on 3.43 acres owned by Palm Beach County. The New York-based company completed the property in 2016 and last year spent $25 million We are renovating it.
The complex is 600 Okeechobee Boulevardconnected to. Palm Beach County Convention Center Located opposite a mixed use building City Place The complex was developed by Related Companies and remains the core of the city’s downtown.
The Hilton West Palm Beach came under the ownership of Ross Related Ross last year. launched the entity and occupied property in Palm Beach County. Associated Southeast.
Representatives for Associated Ross did not immediately respond to requests for comment.
Julia Echikson can be contacted at: [email protected].
