George Gleason Of Bank OZK Lends $475M To Stephen Ross For South Flagler House Development

The asset involved is a development site located at 1355 South Flagler Drive in West Palm Beach, consisting of 3 acres. The transaction includes a construction loan amounting to $475,000,000 for a luxury condo project that features two towers and a total of 108 units.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $475,000,000
• Address: 1355 South Flagler Drive
• Market: West Palm Beach
• Lender: George Gleason - Bank OZK
• Landlord: Stephen Ross - Related Ross
• Loan Type: Construction
• Acreage: 3

The deal is part of Stephen Ross's $10 billion initiative aimed at reshaping the skyline of West Palm Beach. This construction loan is noted as one of South Florida's largest in 2025, reflecting the scale of the development and investment in the region.