Florida & Gulf Coast + South Florida + Finance | July 8, 2022

Forest Development and Royal Palm Companies have secured at $269-million loan to construct Nautilus 220, a mixed-use development in Lake Park, FL.

Forest Development, Royal Palm Companies Close $269M Build Loan for Mixed-Use in Lake Park

Boca Raton, FL-based Forest Development has engaged in a joint venture partnership with Royal Palm Companies for Nautilus 220, a mixed-use development comprised of 330 condominium residences in two 24-story towers with restaurants, retail, and offices alongside a marina on Lake Shore Drive in Lake Park, FL.

In addition, a $269-million construction loan from Fortress Investment Group LLC has closed for Nautilus 220, with financing arranged by Justin Morrow and Kevin O’Grady of Concord Summit Capital. Luis Flores, Anthony Kang, and Rick Carroll of Saul Ewing Arnstein & Lehr LLP represented Forest Development.

The Nautilus 220 project team includes:

*Developer: Forest Development
*Developer: Royal Palm Companies
*Owners Representative: Zabik & Associates, Inc.
*Architect: R+N Architecture
*Interior Design: Interiors by Steven G. Inc.
*Planning & Landscape Architecture: Insite Studio
*Virtual Design & Renderings: VS Studios
*Sales & Marketing: Compass Development Marketing Group

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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.

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