13th Floor Investments, Rockpoint form JV for $100M Link at Boca project

Key Points

•  13th Floor Investments and Rockpoint formed a joint venture to develop Link at Boca in Boca Raton, Florida
• The JV secured $100 million in construction financing from Santander Bank
• The transit-oriented project will deliver 340 apartments and 24,000 SF of retail next to the Boca Raton Tri-Rail Station

Institutional Capital Backs Boca Transit-Oriented Multifamily

A new institutional joint venture is moving forward in Boca Raton as 13th Floor Investments and Rockpoint announce plans for Link at Boca, a large-scale transit-oriented multifamily development. Backed by $100 million in construction financing, the project reflects continued investor and lender confidence in Boca Raton’s long term multifamily fundamentals and in transit-linked mixed-use development across South Florida. Below is a closer look at the partnership, capital stack, and project scope.

Public-Private Partnership Anchors the Deal

Link at Boca is structured as a public-private partnership with the South Florida Regional Transportation Authority. Through a competitive RFP process, 13th Floor Investments was selected to lease publicly owned land and redevelop the area surrounding the Boca Raton Tri-Rail Station into a walkable, mixed-use environment. This structure lowers land-based risk while aligning the project with regional transit and infrastructure investment, a model that continues to attract institutional capital.

Project Scope and Location

Located at 680 W. Yamato Road, directly adjacent to the Boca Raton Tri-Rail Station, the eight-story development will include 340 apartments along with approximately 24,000 square feet of lifestyle-oriented retail at the ground level. The residential mix will include studio, one, two, and three-bedroom units ranging from roughly 600 to 1,300 square feet, designed to serve both local renters and transit commuters. Amenities are positioned at the upper end of the suburban multifamily market, including a resort-style pool deck, coworking spaces, fitness and wellness rooms, simulation lounges, and outdoor social areas.

Institutional Capital and Financing

The joint venture secured $100 million in construction financing from Santander Bank, reinforcing lender appetite for well-located, transit-oriented multifamily assets. Rockpoint’s participation adds institutional weight to the deal. Rockpoint brings deep experience across U.S. multifamily and mixed-use investments, complementing 13th Floor’s local development and execution capabilities. According to Daryl Shevin, CFO and principal of 13th Floor Investments, the financing reflects confidence in both the project and Boca Raton’s long-term transit-oriented development outlook.

Connectivity and Market Positioning

Link at Boca benefits from direct access to Interstate 95, the El Rio Trail, and proximity to major employment and institutional drivers, including Florida Atlantic University, the Boca Raton Innovation Campus, and Boca Raton Airport. The project also includes a 650-space parking garage serving residents, retail users, and Tri-Rail riders, enhancing overall connectivity and utility.

Why It Matters

Transit-oriented multifamily continues to outperform in supply-constrained South Florida submarkets where demand remains durable, and land availability is limited. Boca Raton, in particular, stands out as a high-income, economically resilient market with barriers to entry that support long-term rent growth.

Bottom Line

The $100 million Link at Boca joint venture highlights sustained institutional confidence in transit-oriented multifamily and public-private development models in South Florida. With financing secured and construction expected to begin soon, the project positions Boca Raton as an increasingly attractive node for large-scale residential investment.