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Florida & Gulf Coast  + South Florida  + Finance  | 
El-Ad National Properties has secured a $100-million construction loan through Kriss Capital a condominium project in Boca Raton, FL.

El-Ad National Properties Lands $100M Build Loan for Boca Raton Condo Project

El-Ad National Properties has secured a Kriss Capital-delivered $100-million construction loan for the second phase of its Alina Residences condominium project in Boca Raton., FL

The pair of condo buildings, already under construction, will house 182 units and comprise the final portion of the project, which spans nine acres between Southeast Mizner Boulevard and The Boca Raton Golf Club.

The first phase, a nine-story, 121-unit building known as Alina 200, was finished last year and has reached a $300-million sellout.

The Alina 210 building will offer condos with prices starting at $4 million. Alina 220 will offer condos starting at $2 million and go up to $8 million. Together, the two buildings are roughly 50% sold and achieved $250 million in pre-sales prior to the start of construction, according to El-Ad.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing
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