BD Hotels secured a $75 million construction loan for The Nora Hotel in West Palm Beach, a 201-key boutique hotel developed in partnership with NDT Development, Place Projects and Wheelock Street Capital. Metropolitan Commercial Bank provided the financing, and Steven Klein and Mark Fisher of JLL brokered the transaction.

The Nora Hotel will be at the heart of the Nora District. Phase I of Nora, which will include over 150,000 square feet of adaptive reuse and new development, broke ground in June 2023 and is slated for completion in early 2025. Turn-of-the-century railway warehouses will be reimagined into ground-floor retail. Phase I will also include over 55,000 square feet of second-floor Class-A office space. 

The Nora Hotel marks BD Hotels’ first venture outside of New York City and the second collaboration between BD Hotels and Wheelock Street Capital after the relaunch of Hotel Chelsea in 2023. The BD Hotels portfolio in New York includes The Greenwich, The Bowery, The Mercer, Hotel Chelsea and others.