Kriss Capital Provides $200M Construction Loan For Alina Residences Boca Raton

The construction of Alina Residences, a multifamily property located at 210-220 Southeast Mizner Boulevard in Boca Raton, has received a loan from Kriss Capital and its investment partner Klirmark Capital. The loan amount of $200 million will be used to complete the project, adding to the $100 million bridge loan provided last year to initiate construction. The financing facility was fully funded by leading Israeli investment firms, with no involvement from traditional banks or A-note lenders, demonstrating the confidence in the success of this project. Elad Group, led by Isaac Tshuva, serves as the landlord for this development.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $200,000,000
• Units: 182
• Square Footage: 571,000
• Address: 210-220 Southeast Mizner Boulevard, Boca Raton
• Market: Boca Raton
• Lender: Kriss Capital - Jody Kriss, Harvey M. Lederman & Mark Luehring-Jones ; Klirmark Capital
• Landlord: Elad Group - Isaac Tshuva

This loan from Kriss Capital and Klirmark Capital demonstrates their appetite to finance transitional residential condominium and rental projects during both the construction phase and the subsequent lease-up/sell-out phases. Their investment in the Alina Residences condominium project showcases their belief in its potential for success.