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Florida & Gulf Coast  + South Florida  |  August 23, 2019
David Cohen
By: David Cohen

Pearlmark Provides $45M Preferred Equity for Delray Beach MXU Project

Chicago-based investment firm Pearlmark has closed on a $44.6 million preferred equity investment for the development of Atlantic Crossing, a mixed-use project in Delray Beach. The project will contain 261 units and 91,000 square feet of office and retail space, as well as 444 structured parking spaces.

The investment was originated by Pearlmark and made on behalf of Pearlmark Mezzanine Realty Partners IV. The developer is the Edwards Companies of Columbus. Mark Witt of Pearlmark arranged the transaction.

“We view this project as an opportunity to invest in a high-quality development located in the heart of vibrant downtown Delray Beach,” said Witt. “Additionally, Edwards is a very strong sponsor with significant development experience.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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