Sub Markets

Property Sectors

Topics

Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Florida & Gulf Coast  + South Florida  + Apartments  | 
Centennial Bank has provided an interest-only $28.5 million acquisition loan with a 24-month term to 20 North Oceanside Owner LLC for 20 N. Ocean Blvd

Related & BH Group Acquire $28.5M Loan for Pompano Beach Site

Centennial Bank has provided an interest-only $28.5 million acquisition loan with a 24-month term to 20 North Oceanside Owner LLC for 20 N. Ocean Blvd.  Centennial Bank SVP, Senior Commercial Loan Officer Jay Brito orchestrated the transaction with The Related Group and BH Group.

The site spans 3.7 waterfront acres in Pompano Beach. The joint venture between Related Group and BH Group plans to build a mixed-use two-tower development with 380 luxury condo units on land most recently purchased for $47.5 million.

Preliminary plans indicate ground-floor retail and a parking podium topped with a pool deck are being considered for the final design.

The site was previously held by Jacob Chetrit, who along with developer Ari Pearl, had been approved in 2016 to build a mixed-use project. The duo purchased the property for $42.5 million in 2009.

Connect

Inside The Story

About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

New call-to-action