CHICAGO, April 13, 2017 /PRNewswire/ -- Chicago-based Golub & Company, an international real estate investment and development firm, together with Commercial Financial Management, Inc. and Florida-based real estate investment firm Elion Partners, announced that it has confirmed construction financing for The Bristol Palm Beach, an iconic 25-story, 69-unit waterfront condominium in the Palm Beaches. The tower, which broke ground in May 2016, is located at 1100 South Flagler Drive at the base of the Flagler Memorial Bridge, allowing for unobstructed views of the Intracoastal Waterway, Atlantic Ocean and Palm Beach Island.
"The Bristol represents the next level of modern luxury residential development," observed Golub & Company President and CEO Michael Newman. "The exclusive location offers residents unfettered access to everything Palm Beach has to offer, while the building design considers every detail delivering a resident experience unlike anything else in the area."
Construction financing was provided by BREDS III Loan Holdings, an affiliate of The Blackstone Group. HFF's Scott Wadler, James Dockerty, and Marc Roth brokered the construction loan. Michael Goldman, Golub & Company Senior Vice President, Acquisitions & Finance, coordinated the transaction for the borrower.
The Bristol's three- to five-bedroom ultra-luxury residences range from 3,700 to 14,000 square feet and start at $5,000,000. All residences feature flow-through layouts with east to west ocean and city views and are delivered move-in ready with bespoke finishes. Private elevators open directly into each residence, with separate service elevators for staff and deliveries.
Residents will enjoy resort-like, world-class amenities including: a private dining room overlooking the Intracoastal; a fitness center featuring a main workout room, outdoor deck, private yoga and personal training room; a wet spa area with his and hers private indoor and outdoor treatment rooms, soaking tubs, steam rooms, and saunas; a dedicated beauty suite for private hair, manicure and pedicure appointments; and a 75-foot lap pool, heated whirlpool, and enclosed aquatic feature for children. The lobby will be staffed with 24-hour front desk attendants, a doorman and a concierge.
Other key participants include Solomon Cordwell Buenz, architect, and Suffolk Construction, general contractor. The interiors are designed by celebrated New York-based designer Amir Khamneipur and the outdoor spaces are designed by world-renowned landscape architects EDSA.
About Golub & Company LLC
Since its founding more than 55 years ago, with three generations of professionals working in the business, Golub & Company has built a strong reputation as a trusted co-investor and developer with its many institutional and private capital partners. It's a reputation based on track record; Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties (inclusive of 45,000 residential units), valued in excess of $10 billion located across the United States and internationally. Access more information by visiting www.golubandcompany.com.
About Commercial Financial Management, Inc. (CFM)
Commercial Financial Management, Inc. (CFM) is a full-service property, facility and asset management firm operating primarily in Southeast Michigan and Florida. CFM's roster of managed properties consists primarily of commercial office buildings, major retail centers, warehouses and manufacturing facilities. In each CFM managed property, the firm employs full-time administrative staff and maintains a 24-hour team of building engineers and maintenance technicians. President and sole owner, Allan R. Adelson, has been in the real estate industry for more than 47 years and has managed 66 properties, totaling over 7,000,000 square feet.
About Elion Partners
Elion Partners was formed in 2010 in order to create an institutional-grade investment platform focused on developing and acquiring high-quality commercial real estate across multiple regions of the United States. The firm utilizes both closed-end and open-end funds with an emphasis on preserving capital while providing attractive, risk-adjusted returns. Elion's principals have over 80 years of commercial real estate experience and have completed more than 170 transactions, valued in excess of $4.0B. Elion's principals make significant capital commitments in every investment vehicle, creating a direct alignment of interest with its investors.
For Golub & Company:
Aleks Walker, Akrete
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bristol-palm-beach-ultra-luxury-condominium-residences-confirm-construction-financing-300439091.html
SOURCE Golub & Company LLC