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Gatsby Florida secures $118.6M construction loan for Palm Beach Gardens project

The three-year, floating-rate, interest-only loan was arranged by Berkadia through Cirrus Real Estate Partners, with construction slated to start soon and delivery targeted for 2028.

Reported · Written up by our desk · Commercial

Gatsby Florida has secured an $118.6 million construction loan for a new office and retail development in Palm Beach Gardens, according to ConnectCRE.

The project, called The Palm, Palm Beach Gardens, is an eight-story development planned at 11200 RCA Center Drive, totaling about 200,000 square feet of Class A office space.

Set to include roughly 30,000 square feet of ground-floor retail and restaurant space, the plans also call for an 838-space structured parking garage with EV charging stations, plus a rooftop terrace, conference facilities, and a fitness center.

ConnectCRE reports Berkadia arranged the three-year, floating-rate, interest-only loan through Cirrus Real Estate Partners, and said construction is scheduled to begin soon with completion expected in 2028.

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