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Related Group Secures $91M Construction Financing on Oceanfront Condos
Related Group has secured a $91.3-million construction loan to complete its luxury oceanfront condominium tower Solemar in Pompano Beach, FL. The project broke ground in May and is already 95% pre-sold.
“With 95% of inventory under contract, Solemar’s rapid pre-construction sales is incredibly telling of how special this product and location is,” said Nicholas Pérez, VP at Related Group. “We are thrilled to be offering this level of luxury, directly on the sand, to buyers who are looking for an accessible price point for an elevated lifestyle.”
The completed boutique condo project will rise 20 stories on 250 feet of linear oceanfront and deliver 105 residences with floorplans ranging from 2,000 to 4,600 square feet. Solemar residents will be among the first to experience a Related property with a fully-integrated wellness package, including DARWIN tech within each home to help residents sleep and breathe better.
- ◦Development
- ◦Financing
