Related Ross Secures $157 Million Construction Loan for Shorecrest in West Palm Beach

Related Ross has closed on a $157 million construction loan for Shorecrest, a modern collection of distinctive waterfront condominium residences in West Palm Beach and a key component of the firm’s expansive vision for the future of the South Florida city. With construction financing provided by GoldenTree Asset Management, construction is now set to begin on the new waterfront tower, introducing bespoke architectural design and a wellness-infused lifestyle – including amenities and services curated in partnership with Equinox – to the reimagined North Flagler Drive neighborhood. With commanding views of the Intracoastal Waterway and adjacent Palm Beach Island, and easy connectivity to downtown West Palm Beach and Related Ross’s thriving CityPlace, Shorecrest will elevate one of West Palm Beach’s most exciting corridors.

Demolition and site preparation will begin this month, with groundbreaking for the tower slated for the spring. Completion is expected in 2027, and current availability is priced from $3 million.

“The closing of this construction loan marks an important step forward for Shorecrest and speaks to the market’s confidence in the project’s quality, location, and long-term value,” said Bryan Cho, Executive Vice President at Related Ross. “GoldenTree Asset Management’s commitment reinforces the momentum we’re seeing in West Palm Beach’s luxury residential sector.”

Situated at 1865 North Flagler Drive, Shorecrest will rise 28 stories and comprise just 98 luxury waterfront residences offering impressive vistas of the Intracoastal Waterway, Atlantic Ocean, and Palm Beach Island. Designed by critically acclaimed Roger Ferris + Partners, the tower’s architectural façade serves as a striking modern statement, while just four residences per floor ensure that the light-filled two- to three-bedroom homes by international design firm Rottet Studio feel both refined and intimately connected to West Palm Beach’s coastal landscape.

Shorecrest is leading the way in turning the North Flagler neighborhood into a new luxury destination just across the Intracoastal Waterway from Palm Beach Island. Its 18,355 square feet of thoughtfully curated amenities are designed to support an uninterrupted, distinctly South Floridia experience anchored by a partnership with Equinox. Offerings include a golf simulator, executive meeting spaces, an onsite residents-only Lifestyle Director, a game lounge, a private dining room, and a rooftop pool deck featuring a 75-foot lap pool, complemented by a hot tub, cold plunge, and his-and-hers spas with dedicated sauna and steam rooms.

The financing builds on Related Ross’s growing momentum in West Palm Beach, where the firm is actively advancing a series of residential projects that are redefining both the waterfront and the city’s urban core. Recent achievements include the topping out of South Flagler House, a two-tower ultra-luxury waterfront condominium located two miles south of Shorecrest and expected to open in 2027, as well as the successful lease-up of The Laurel, a 322-unit luxury rental community at CityPlace that is closely woven into downtown West Palm Beach.

Shorecrest represents the next phase of Related Ross’s long-term vision for the city, anchoring the transformation of the North Flagler waterfront into a vibrant, walkable neighborhood with direct connections to downtown, Brightline, and the multimillion-dollar revitalization of Currie Park. As part of the firm’s more than $10 billion investment in West Palm Beach, the project reflects a continued commitment to elevating the city’s global profile through sustained economic growth, innovation, and year-round urban vitality.

Sales for Shorecrest are being led by Corcoran Sunshine Marketing Group.

Past PROFILEmiami articles about Shorecrest:

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PMG Locks Down $115 Million Construction Loan For Sage Intracoastal Residences Fort Lauderdale

National developer PMG is pleased to announce they have secured $115 million in construction financing for Sage Intracoastal Residences Fort Lauderdale, a 28-story boutique condominium nestled along 200 linear feet of Fort Lauderdale’s Intracoastal waterway. Financing was provided by GoldenTree Asset Management. The transaction was led by PMG's Capital Markets team composed of Andrew Warman, Jonathan Blank, and Paton Marion in coordination with in-house counsel Lowell Plotkin, Lindsay Davis, and Scott Buscemi. Saul Ewing served as PMG’s transactional counsel, and Gibson Dunn served as GoldenTree Asset Management’s transactional counsel. The property broke ground last month and is slated for completion in late 2027.

“Fort Lauderdale is defined by its waterways and natural beauty, and we’re proud to have GoldenTree’s continued support as we advance Sage Intracoastal Residences on the waterfront,” said Dan Kaplan, Managing Partner at PMG. “Positioned between the New River and the Atlantic, this boutique development will deliver year-round access to premier dining, recreation, and leisure, complemented by elevated design and wellness-driven amenities. We commend our capital markets team for underscoring Sage Intracoastal’s value and remain focused on setting a new standard in Fort Lauderdale as construction moves forward.”

Sage Intracoastal Residences Fort Lauderdale consists of 44 elegantly appointed residences displaying unobstructed views of the Intracoastal and Atlantic Ocean, perpetually protected by the Bonnet House Museum & Gardens. Designed by Fort Lauderdale-based FSMY Architects with interiors curated by acclaimed design firm BAMO, the property will offer two-, three-, and four-bedroom private residences starting at 2,767 square feet. Expertly designed to enhance privacy, there will only be two units per floor and a doubled distance away from neighboring buildings.

Each carefully crafted residence will be equipped with the finest finishes and features to deliver a truly harmonious residential experience. These include soaring 10-foot ceiling heights, Italian kitchen cabinetry custom-designed by BAMO, floor-to-ceiling energy-efficient and impact-resistant glass sliding doors and windows to maximize natural light, expansive private terraces with summer kitchens and clear glass railings for unobstructed views, custom Italian entry and interior doors, smart home technology, high-end appliances, midnight bars in primary bedrooms, and more. The Sage Penthouse Collection will extend further luxury and convenience to buyers through taller residential ceiling heights and private rooftops with summer kitchens and plunge pools.

A thoughtful array of over 19,000 square feet of exceptional, private indoor and outdoor amenities will also be available to residents, including an integrated wellness circuit. The wellness circuit will center around the Sage Wellness Spa, a tranquil space equipped with steam, sauna, and cold plunge areas, private treatment rooms, private his and hers lockers, and a relaxation area with outdoor terraces. Additionally, residents will have access to a state-of-the-art fitness studio with the latest high-tech exercise equipment, a movement studio, and a yoga lawn. Beyond wellness, Sage Intracoastal Residences Fort Lauderdale will present residents with ample outdoor amenity space, allowing them to reap more of the benefits of their stunning waterfront location. Outdoor amenities include an expanded jacuzzi, a spacious waterfront resort-style pool with a lounge area, a grilling station with dining tables, a water view bar and lounge, and private luxe cabana suites. Indoors, residents will have access to a state-of-the-art golf simulator.

Services available to residents include a private residential porte-cochère with 24-hour valet service, a 24-hour front desk concierge, sports equipment storage, house bicycles, a dog run, dog walking services, package delivery, and valet parking. Sage Intracoastal Residences Fort Lauderdale will also feature the latest in smart-building technology, as well as semi-private elevators and private elevator foyers for each residence.

PMG Residential is the lead sales team for Sage Intracoastal Residences Fort Lauderdale, with Jaime Cristancho, and Laura San Jose exclusively representing sales for the project.

Images via ARX Creative

For more information about Sage Intracoastal Residences Fort Lauderdale or to inquire about purchasing a unit please fill out the form below:

PMG, Lion Development Group and Marc Roberts Companies Secure $215 Million Construction Loan For 38 West Eleventh Residences Miami

National developer PMG, Michael Simkins’ Lion Development Group, and Marc Roberts Companies have secured $215 million in construction financing for 38 West Eleventh Residences Miami, a 44-story, 659-residence condominium in Miami’s Park West neighborhood. Rising at 38 Northwest 11th Street and currently 99% sold, this property will offer fully furnished luxury residences along with short-term rental flexibility and an opportunity for owners to enjoy the ability to host guests 365 days a year on Airbnb*. Financing was provided by GoldenTree Asset Management. PMG Residential exclusively represents sales for 38 West Eleventh Residences Miami. John Moriarity & Associates is the general contractor behind the project, which is slated for completion in Q1 2028.

Josh Winefsky, Adrian Diaz, and Celeste Williams at Kramer Levin Naftalis & Frankel LLP served as the lead transactional counsel. Randy Barcelo at Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. served as local counsel. Javier Avino and Andres Rivero at Bilzin Sumberg Baena Price & Axelrod LLP served as land use counsel, and Evan Wagowski at Greenberg, Trager & Herbst, LLP served as construction counsel.

"The Park West neighborhood is growing in prominence, and we are thrilled to have GoldenTree's support in bringing 38 West Eleventh Residences to the forefront," said Ryan Shear, Managing Partner at PMG. "With its dynamic energy and robust sales momentum, this project is well-positioned to make a positive impact on Miami’s real estate market. Together with our partners and our stellar capital markets and legal teams comprised of Lowell Plotkin, Scott Buscemi, Jon Blank, Andrew Warman, and Paton Marion, we are eager to deliver a vibrant and flexible living experience that embodies the spirit of this remarkable development for future residents and guests alike."

Designed by internationally renowned architecture firm Sieger Suarez Architects, with residential interiors by Cotofana Designs, 38 West Eleventh Residences Miami will offer the best of both city living and access to nearby beaches. Each of its fully-finished and fully-furnished studio and one-bedroom units will feature top-of-the-line appliances, sweeping views of the Miami skyline, Biscayne Bay, and the Atlantic Ocean, as well as PMG smart home technology, delivering seamless personalization with the touch of a button for integrated audio, video and lighting systems.

“Miami’s ongoing transformation into a truly unparalleled culinary, entertainment, and residential destination makes it the perfect location for a development such as 38 West Eleventh Residences,” said Michael Simkins, President and CEO of Lion Development Group. “Not only does this project embody Park West’s spirit, but it deftly complements its lively live, work, play atmosphere to create a wholly dynamic living experience. We are excited to join PMG and Marc Roberts Companies in watching its world-class lifestyle take effect.”

Unique to 38 West Eleventh Residences Miami is its distinctive 30,000 square foot, tri-level experiential entertainment venue, which will bring an impressive array of experiences right at residents’ doorstep and seamlessly integrate with the entertainment district’s vibrant atmosphere. Additionally, each owner at 38 West Eleventh Residences Miami will have the opportunity to host on Airbnb year-round, marking the first time this feature is offered at a residential condominium in Miami.

“38 West Eleventh Residences presents a one-of-a-kind opportunity to live in the heart of one of Miami’s most up-and-coming and entertainment-filled neighborhoods,” said Marc Roberts of Marc Roberts Companies. “Alongside our partners, PMG and Lion Development Group, we are proud to receive the trust from the Capital Markets to deliver a transformational project of its caliber. We look forward to witnessing the lasting impact 38 West Eleventh Residences Miami has on Miami and its residential market for years to come.”

Over 20,000 square feet of amenities are available at 38 West Eleventh Residences Miami, specially curated to extend owner comfort and provide a luxurious lifestyle. Whether it’s relaxing by the expansive pool overlooking the Miami skyline, savoring culinary delights at the signature supper club restaurant on the main floor, or unwinding in private lounge areas, there is something for everyone. The state-of-the-art fitness centers, wellness features, and co-working space additionally ensure that residents will have access to every comfort and convenience right from home.

With more than three decades of experience in luxury residential developments nationwide, PMG continues to passionately transform skylines with impeccable attention to detail throughout each of its projects. In addition to its extensive portfolio of over 175 projects, the developer is famed for thoughtfully designed condominium developments including 111 West 57th Street in New York City; E11EVEN® Club Hotel & Residences & E11EVEN® Club Residences Beyond, Waldorf Astoria Hotel & Residences, One West Twelve Residences, One Twenty Brickell Residences, and The Elser Hotel & Residences in Miami; Sage Intracoastal Residences in Fort Lauderdale; as well as One Park Sarasota and One Park West on Florida’s west coast.

Renderings via ARX Creative

*Hosting is subject to local laws and other restrictions.

For more information about 38 West Eleventh Residences Miami or to inquire about purchasing a unit please fill out the form below: