Al Adelson And Thomas Morrison Secure $62.5M Loan For Development Site In West Palm Beach

The asset involved in this transaction is a development site located at 601-621 Clearwater Park Road in West Palm Beach. This site is planned for a 25-story condominium tower, consisting of 193 units, with prices ranging from $2 million to $10 million. Construction is scheduled to commence in June 2026, and the project is being designed by Arquitectonica.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $62,500,000
• Lender: Anthony Shaskus - JVP Management
• Landlord: Al Adelson & Thomas Morrison - Sympatico Real Estate
• Market: West Palm Beach
• Planned Units: 193
• Project Design: Arquitectonica
• Unit Prices: $2M–$10M
• Construction Start Date: June 2026

This transaction involves Al Adelson and Thomas Morrison representing Sympatico Real Estate, who secured the loan from JVP Management, led by Anthony Shaskus, for the development project known as the Berkeley.