Published On: Wed, Jul 10th, 2019

ALINA Residences Boca Raton Secure $146 Million Construction Loan for Phase One

El-Ad National Properties, an Elad Group company, has closed on a $146 million construction loan for phase one of ALINA Residences. Deutsche Bank and Bank Hapoalim provided financing for the project, which broke ground earlier this year. Construction is already well underway on 121 luxury residences, which make up ALINA’s first phase slated for delivery in the fourth quarter of 2020.

“With construction moving along at a very rapid rate, we are happy with how well received this project has been. ALINA is generating excitement not only from South Florida locals, but also from those who live outside the area who are looking to make Boca home,” said Noam Ziv, Executive Director of Development of El-Ad National Properties. “ALINA is attracting buyers looking to live in a location that puts them in the center of everything.”

Designed by acclaimed architectural firm Garcia Stromberg/GS4 Studios, ALINA offers one to four-bedroom condominiums that showcase sweeping golf course and city views with floor-to-ceiling glass doors which open to expansive terraces. Open-concept layouts and artful design details create an atmosphere of beauty and comfort, with select residences including ocean views.

“Boca Raton is the perfect market for our latest project, ALINA Residences, and we are excited that we were able to partner with Deutsche Bank and Bank Hapoalim to close such a sizable loan,” said Yoel Shargian, CEO of EL AD US Holding, Inc. “We are proud of the progress on this project and are elated to elevate the level of luxury in Boca Raton. ALINA Residences offers residents a Florida lifestyle with access to an array of amenities in a convenient and walkable downtown environment, moments away from golf and beaches.”

The property provides residents with a quiet retreat in the heart of downtown Boca Raton. The development features over 45,000 sq. ft. of resort-inspired amenities, seamlessly combining the indoors and outdoors. Amenities include nearly an acre of outdoor green space with private cabanas, fire pits, a dedicated yoga area, outdoor kitchens, a dog park, an elite performance Fitness Center with a yoga studio, as well as his and her Spa facilities. The project is located adjacent to the Boca Raton Resort and Club’s golf course, and just minutes away from dining, entertainment, art museums and the beach.

ALINA has celebrated several milestones in the past six months including the opening of the Sales and Model Gallery, groundbreaking and most recently, the commencement of the concrete pour for the foundation of phase one of the project.

Prices for ALINA begin from just under $1 million to over $6 million. For more information, please visit AlinaBocaRaton.com.

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