Madison Realty Capital Loans $340 Million to Build The Ritz-Carlton Residences, Palm Beach Gardens
Catalfumo Companies has secured a $340 million loan from Madison Realty Capital to finance the construction of The Ritz Carlton Residences, Palm Beach Gardens. The marina-front development achieved $75 million in sales within days of the sales gallery launch.
Situated on a sprawling 11-acre site with 850 feet of Intracoastal Waterway frontage, The Ritz-Carlton Residences, Palm Beach Gardens will be known as The Estate Collection and will offer three-, four-, and five-bedroom layouts. The 106 homes range in price from $4 million to more than $8 million.
Douglas Elliman Development Marketing has spearheaded the sales for The Ritz-Carlton Residences, Palm Beach Gardens.
Construction is set to begin in late summer 2023 with completion expected in 2025.
Daniel Catalfumo represented the company in the transaction directly with Madison Realty Capital.
“We are honored to be working with Madison Realty Capital, which has been unwaveringly supportive,” said Catalfumo, founder of Catalfumo Companies.