JV Teaming Up on $100M Boca Raton Transit-Oriented Development

13th Floor Investments and Rockpoint formed a joint venture to develop Link at Boca, a new mixed-use multifamily community located in Boca Raton, Florida.  Link at Boca represents a public-private partnership with the South Florida Regional Transportation Authority, under which 13th Floor Investments was previously selected through an RFP process to lease publicly owned land and transform the area around the station into a mixed-use environment.

Adjacent to the Boca Raton Tri-Rail Station, the eight-story transit-oriented development will feature a mix of 340 apartments and approximately 24,000 square feet of retail space on the ground floor serving residents, transit riders, and the surrounding Boca Raton community.

As part of the transaction, the joint venture has secured $100 million in construction financing from Santander Bank to fund the development. The project’s groundbreaking is anticipated to take place in February, with construction estimated to take approximately 24 months.