The Alba Palm Beach condominium located at 4714 North Flagler Drive in West Palm Beach has secured a $95 million construction loan. The 22-story, 55-unit project is expected to be completed by early 2025. The previous year, developer BGI Capital and investor Wexcor Capital obtained an $82 million construction loan from Trez Capital for the same project.

Summary of transaction details

• Property Type: Condo
• Transaction Amount: $95,000,000
• Address: 4714 North Flagler Drive, West Palm Beach
• Market: West Palm Beach

Jody Kriss, representing Kriss Capital, acted as the lender for the $95 million construction loan. The landlord for the Alba Palm Beach condominium includes Kenneth Baboun and Robert Barthelmess from BGI Capital, as well as Ron Wexler from Wexcor Capital. BGI Capital and Wexcor Capital have partnered together for this development, with BGI Capital previously securing an $82 million construction loan from Trez Capital.