PALM BEACH GARDENS, FLA. — JLL has arranged a $77.5 million construction loan for New York City-based Abacus Capital Group to develop Arbor House in Palm Beach Gardens. A publicly traded real estate investment company was the lender for the four-year, floating-rate loan. JLL’s team was led by Mona Carlton, Joshua Odessky and Michael Romero.
The 13-story, 302-unit Arbor House will feature an attached garage with 480 parking spaces and a 7,000-square-foot amenity deck on the eighth floor that will be the site of a wellness and fitness center, cold plunge pool, a resort-style pool, a sauna and a golf simulator. Work-from-home space will be available to residents on the ground floor. Units are offered in floor plans ranging from studios to three-bedrooms with 10 percent of the units set aside for tenants earning no more than 120 percent of area median income. A completion date was not disclosed.