Florida-based El-Ad National Properties secured a $52.8 million loan for the second phase of ALINA Residences, its luxury condo development in Boca Raton, Fla., from the New York branch of Deutsche Bank. In 2019, Deutsche Bank and Bank Hapoalim provided a $146 million loan for the first phase of construction, which reached completion last month.
Designed by Garcia Stromberg/GS4 Studios and built by Moss Construction, the first phase of the project, which includes 121 artfully designed luxury residences, is currently over 75% sold, with a selection of move-in-ready residences still available.
Continuing the success of phase one, the developer plans to launch the second phase later this year to complete ALINA. Phase two will include two additional buildings designed for luxury living on nine-acres overlooking the Boca Raton Resort & Club golf course.
A departure from Boca Raton’s Spanish-Mediterranean architecture, Alina Residences has modern seamless indoor/outdoor living spaces, private amenities and a central downtown location. Wellness is a focal point of ALINA’s boutique amenities. Residents have access to a state-of-the-art fitness center with double-height floor-to-ceiling windows, a private yoga room and adjacent outdoor meditation garden. In addition, there is a his/her spa with a salt room, steam room, sauna, private treatment rooms and indoor and outdoor relaxation rooms.
For entertaining, residents have an expansive clubroom that features a catering kitchen and private dining area with indoor and outdoor terraces. On-site concierge services are included to help with any entertaining needs and local recommendations.
ALINA is directly connected to the heart of Boca Raton through walkable landscaped outdoor promenades. Nearby is Mizner Park, Royal Palm Place, al fresco dining, upscale art galleries and couture boutiques.
ALINA Residences is located at 300 SE Mizner Blvd.