Related Group and Merrimac Ventures Secure $160 Million Construction Loan For Waldorf Astoria Residences Pompano Beach As Sales Pass 70%

Leading real estate developers Related Group and Merrimac Ventures, alongside hospitality leader Hilton (NYSE: HLT), have closed on $160 million in construction financing from Bank OZK for Waldorf Astoria Residences Pompano Beach (The Residences). Marking Waldorf Astoria’s first-ever standalone residential development, the property is already elevating the standard for luxury living in Broward County, with only select residences remaining.

“The Residences combine the legendary service and sophistication of the Waldorf Astoria resort properties with the comfort and security of private ownership. It’s a no-compromise lifestyle that immerses residents and caters to their every wish,” said Nick Pérez, President of Related’s Condominium Division. “We’re proud to work alongside our development and financial partners to help propel Pompano Beach as the region’s next premier luxury destination. It is properties such as this one that will help the city reach its full potential.”

Set on two acres of coveted oceanfront, The Residences will offer 92 exclusive condominium homes and an exceptional suite of resort-style amenities and personalized services managed directly by Waldorf Astoria. With world-class design led by Nichols Architects in collaboration with KORA, BAMO, and Enea Landscape, the development positions Pompano Beach as a rising star among luxury destinations.

“This financing marks a pivotal milestone for The Residences and the vision we’ve long held for this iconic oceanfront site,” said Dev Motwani, CEO of Merrimac Ventures. “This property location, design and unmatched lifestyle offerings have resonated with buyers, quickly propelling us past 70 percent sold in a remarkably short timeframe.”

The 28-story tower comprises homes ranging from two to five bedrooms, spanning 2,100 to 6,100 square feet. Each residence boasts private elevator access, floor-to-ceiling windows and oversized balconies with panoramic Atlantic Ocean and Intracoastal Waterway views. The 20,000-square-foot oceanfront pool deck perfectly captures the essence of the property’s seaside experience, enhanced by a private spa, an outdoor bar and dining lounge, and summer kitchens. Residents can also enjoy exclusive access to 200 linear feet of pristine beachfront as well as a private marina with nearly two dozen boat slips.

Beyond its stunning outdoor spaces, The Residences offers more than 15,000 square feet of curated indoor amenities and an extensive list of resident services. Wellness-driven offerings include a state-of-the-art fitness center and a dedicated movement studio, as well as an on-site spa with private treatment rooms and his-and-hers sauna and steam rooms. Residents can also enjoy a variety of entertainment and leisure amenities, such as a ground-floor dining concept, a billiards lounge, a children’s entertainment center and a multi-sport simulator. Additionally, the property will showcase an array of museum-quality artwork from the renowned Jorge M. Pérez Contemporary Art Collection.

True to the Waldorf Astoria tradition of exceptional hospitality, the property’s signature 24/7 resident services include in-residence dining, a personalized concierge, and dedicated beach and poolside service.

“Bank OZK is excited to expand upon our strong relationships with both Related Group and Merrimac Ventures, along with the sponsorship of an industry leader like Hilton, for this extraordinary development,” said Greg Newman, Senior Managing Director of Originations at Bank OZK. “We look forward to seeing how this landmark project enhances Pompano Beach’s coastal legacy and growing prestige.”

For those seeking the pinnacle of coastal luxury, The Residences offers four exquisitely crafted penthouse residences ranging from $16 million to $20 million. Each of these sprawling homes features 70 linear feet of uninterrupted ocean views and wraparound terraces that showcase panoramic vistas of the ocean, Intracoastal Waterway and the dynamic Pompano Beach skyline. The two upper penthouses feature sweeping 3,200- to 3,500-square-foot rooftop terraces, complete with air-conditioned entertainment spaces, summer kitchens and private pools.

Only select homes remain available at Waldorf Astoria Residences Pompano Beach.

Renderings via The Boundary

For more information about Waldorf Astoria Residences Pompano Beach or to inquire about purchasing a unit please fill out the form below:

Construction On Miami's First Supertall Tower 'Waldorf Astoria Hotel & Residences Miami' Progressing At One Floor Per 10 Days

Construction is progressing swiftly at PMG’s Waldorf Astoria Hotel & Residences Miami, an iconic project poised to redefine the Miami skyline as the city’s first supertall tower. This architectural marvel will stand 100 stories tall and reach heights of 1,049 feet, making it the tallest residential building south of New York City. As of now, construction has successfully progressed with the pouring of 19 floors, averaging one floor every ten days. The team has recently commenced work on the pool level, with the amenity level to follow shortly. Additionally, the installation of the glass facade for the first cube of the tower is currently underway.

The construction is managed by John Moriarty & Associates, with PMG leading the development in partnership with Canadian private equity firm Greybrook, global investment company Mohari Hospitality, S2 Development, and the prestigious hospitality firm Hilton, which secured a $668 million construction loan in June 2024.

Situated at 300 Biscayne Boulevard, Waldorf Astoria Hotel & Residences Miami will consist of 387 private residences and 205 luxurious guest rooms, providing breathtaking 360-degree views of Downtown Miami, Miami Beach, and the Atlantic Ocean. The project's innovative design features nine spiraling, offset glass cubes wrapped in a striking "glass skin," setting it apart from any other structure on the East Coast. Conceptualized by Sieger Suarez Architects in collaboration with renowned architect Carlos Ott, this extraordinary tower embodies modern luxury.

The hotel component will occupy the first three cubes, showcasing the iconic Waldorf Astoria brand's signature spaces and private amenities. Guests and residents will enjoy a wide array of features, including the famed Peacock Alley, a specialty restaurant, versatile event spaces, meetings and boardrooms, and a resort-style pool deck with private cabanas. A holistic wellness spa and fitness center will also be available for relaxation and rejuvenation.

Private residential amenities will ensure an elevated living experience, featuring an exclusive owners-only lobby and lounge, a hospitality suite for intimate gatherings, a billiard room, a children's club, and an elevated pool deck. Each residence will be equipped with cutting-edge smart-home technology, providing custom mobile app access to a host of concierge services—from dining reservations and 24/7 room service to spa treatments and dog walking services.

Managed by Hilton Management Services, Waldorf Astoria Residences Miami promises to deliver an unparalleled level of service and refined living experience, making it a true haven for both residents and guests alike.

Images via John Moriarity & Associates & ARX Creative

For more information about Waldorf Astoria Hotel & Residences Miami or to inquire about purchasing a unit please fill out the form below:

Supertall Waldorf Astoria Hotel & Residences Miami Locks Down Largest Construction Loan In Florida History at $668 Million

PMG, along with partners Canadian private equity firm Greybrook, global investment company Mohari Hospitality, S2 Development, and global hospitality company Hilton (NYSE: HLT) have secured $668 million in construction financing for Waldorf Astoria Hotel & Residences Miami. This monumental milestone marks the largest construction loan secured for a residential condominium development in Florida’s history. As the first supertall tower to break ground in Miami, the Waldorf Astoria Hotel & Residences Miami will rise as the tallest residential building south of New York City and signify iconic hospitality brand Waldorf Astoria’s entry in Miami.

Bank OZK and Related Fund Management provided the financing with the transaction brokered by Christopher Peck, Chris Drew, Brian Gaswirth, Jimmy Calvo and Mateo Bolivar of Jones Lang LaSalle (NYSE: JLL). Kramer Levin Naftalis & Frankel LLP and Saul Ewing LLP represented PMG and Greybrook. PMG Residential leads sales with Christian Tupper, Aura Aragon, Daiana Quiceno, Alejandra Castillo and Karine Carvalho as the exclusive team. The property is currently over 90% sold.

“This project’s success cannot be credited to one person or firm, as it was nothing short of a herculean effort by a collective of so many individuals to bring Waldorf Astoria Hotel & Residences Miami to fruition,” said Ryan Shear, Managing Partner at PMG. “Both the magnitude of financing we’ve secured for this project and its incredible buyer response is testament to the quality of product and strength of Miami’s real estate market, which remains one of the strongest markets in the country. We look forward to completing a record-breaking mat foundation pour this week and moving forward in the vertical construction of this iconic addition to Miami’s skyline.”

“PMG’s ability to secure financing for a project as significant and iconic as the Waldorf Astoria Hotel & Residences in today’s atmosphere once again underscores the confidence the capital markets has in our platform at large,” said Dan Kaplan, Managing Partner at PMG. “Recurring collaborations with institutions such as Bank of the Ozarks and Related Fund Management proves PMG’s both consistent and successful track record over the past three decades. We are excited to commence vertical construction and deliver what will ultimately be the defining building in the Miami skyline.”

Waldorf Astoria Hotel & Residences Miami will complete a record-breaking foundation pour this week led by the development’s general contractor John Moriarty & Associates alongside CAPFORM. Over the course of 36 uninterrupted hours, a continuous rotation of 1,400 trucks will deliver over 13,500 cubic yards of concrete to the development site. This pour commences vertical construction of the property which is slated for completion in Q2 2028.

“Reaching this important milestone is a testament to the effort and dedication put forward by our respective development organizations,” said Peter Politis, CEO, Greybrook Realty Partners. “This achievement underscores our commitment to delivering this landmark project and as the project advances into the vertical construction phase, we look forward to bringing this impressive structure to life.”

“We are delighted to finance another project for a quality sponsor like PMG. The premier nature of this mixed-use development, strong unit pre-sales, substantial equity investment, low leverage and sole senior secured position are all consistent with our lending strategy,” said Brannon Hamblen, Bank OZK President. “Miami continues to be an attractive market given its strong economic fundamentals, and is now the largest market for our Real Estate Specialties Group, surpassing New York, as of this year’s first quarter.”

Located at 300 Biscayne Boulevard, the architecturally awe-inspiring Waldorf Astoria Hotel & Residences Miami will feature nine spiraling, offset glass cubes designed to be evenly stacked and wrapped in what can be referred to as a “glass skin,” distinguishing the property’s architecture from anything else on the East Coast. With concept design led by Sieger Suarez Architects, in collaboration with renowned architect Carlos Ott, the 1,049 foot tower will consist of 387 private residences in addition to 205 guestrooms and suites within the luxury hotel, which will be in the first three cubes of the tower along with the hotel’s signature spaces and private amenities. The developers also partnered with award-winning interior design firm BAMO, which prides itself on creating captivating environments that flow, function and make people feel welcome, at ease and inspired to live and dream more fully.

Hotel guests and residents will have access to the Waldorf Astoria brand’s world-famous Peacock Alley; a specialty restaurant; indoor/outdoor pre-function and function event spaces; meetings and boardrooms; a resort-style pool deck with private cabanas; and a holistic wellness spa and fitness center. Private residential amenities will include an owners-only lobby and lounge; hospitality suite for chef’s tastings and intimate soirees; billiard room; kid’s club; and elevated pool deck. Each residence will include the latest smart-home technology with custom mobile app access to concierge services. The app will feature a full menu of available offerings, including dining reservations, 24/7 room service, spa, and fitness treatments, house car reservations, access to valet service, package delivery, and dog walking services. Waldorf Astoria Residences Miami will be managed by Hilton Management Services, providing residents and guests alike a truly refined haven through the brand’s relentless commitment to personalized service and best-in-class experiences.

For more information about Waldorf Astoria Hotel & Residences Miami or to inquire about purchasing a unit please fill out the form below:

Related Group and Merrimac Ventures Partner with Hilton To Launch Waldorf Astoria Residences Pompano Beach

Related Group (Related) and Merrimac Ventures alongside hospitality leader Hilton (NYSE: HLT) have announced the signing of Waldorf Astoria Residences, located in South Florida’s emerging market of Pompano Beach. Directly overlooking the Atlantic ocean, the Waldorf Astoria Residences Pompano Beach (The Residences) marks the historic brand’s first-ever foray into purely residential concepts and its official entrance into Broward County.

“We set out to distill the timeless elegance and exclusivity of the Waldorf Astoria brand into a purely residential format,” said Nick Perez, President of Related’s condominium development group. “From the design and architecture to the resident services, we’ve pulled out all the stops to ensure this property fully embodies the Waldorf Astoria brand. There is no compromise in our approach and we are so excited to see how the market reacts to this incredible development.”

Sitting on a two-acre oceanfront site, the Waldorf Astoria Residences Pompano Beach spans only 92 residential units and offers world-class design, spearheaded by Nichols in collaboration with KORA, BAMO and Enea Landscape Architecture. With a hospitality infused amenity package - including a beachfront cafe with room service, resident lounge, pool, jacuzzi and cabanas with poolside dining, wellness facilities, and nearly two dozen boat slips - the new build will add further momentum to South Florida’s growth and be part of the sub-market’s evolution into a highly sought-after address.

Envisioned as a love letter to the history and tradition of the Waldorf Astoria name, The Residences features many nods to the brand. Among the most prominent examples is the tower’s Peacock Alley, a homage to the Peacock Alleys that grace many Waldorf Astoria properties around the world. The resident-only space will serve as the property’s main gathering area - where residents go to “see and be seen” - and feature a soon-to-be-announced F&B concept along with many other signature touches. Brand aficionados will also spot a lovingly crafted clock inspired by the original at Waldorf Astoria in New York.

“Waldorf Astoria has been committed to offering sincerely elegant service, culinary excellence, and unforgettable experiences since its inception,” says Dino Michael, SVP & Global Head, Hilton Luxury Brands. “With the announcement of Waldorf Astoria Residences Pompano Beach, we are thrilled that the reputation and expectations associated with our luxury brand will reach new audiences and buyers with our evolved approach to the real estate space.”

The influence of the revered hotel flag extends to the more than 15,000 square feet of curated lifestyle amenities. Highlights include a 20-thousand-square-foot, oceanfront pool deck, complete with a lap-pool and private spa, outdoor bar and dining lounge, summer kitchens and resident cabanas. Residents will also have direct, private access to 200 linear feet of beachfront and beachside cafe. The property is also one of the very few in the region to feature a private marina, with 19 slips and ability to accommodate vessels measuring up to 45 feet.

The Residences also offer a wide assortment of wellness-forward amenities. This includes a resident-only spa with private treatment room and His/Her sauna and steam rooms, as well as a cutting-edge fitness center, complete with the latest cardio machine and strength and conditioning equipment, as well as a dedicated movement studio and spin room.

Additional entertainment options include a ground-floor F&B concept, billiards lounge, children’s entertainment room, and multi-sport simulator. Managed by Waldorf Astoria, buyers will also enjoy 24/7, signature resident services, including in-resident dining, beach and pool-side service, personal concierge and more. The property will also feature an assortment of museum-quality art from the world-renowned Jorge M. Perez Contemporary Art Collection.

The Residences’ unveiling comes amidst a major renaissance for Pompano Beach, a city lovingly known as “Florida’s Warmest Welcome.” Related and Merrimac Ventures have been working for decades to drive the thoughtful transformation of Pompano, and the broader Broward market, into an undeniable luxury destination.

“Pompano Beach’s transformation has been extraordinary – the result of many years of careful, thoughtful development and public investment in the community, which we’ve witnessed in the last decade since we’ve owned the site,” says Dev Motwani, CEO of Merrimac Ventures. “While we’ve completed several developments in the market over the years, we’ve always felt that this property was unique and intentionally waited until we found the right vision for this specific location. Now, with Related and Hilton as our partners, we're excited to move forward on what is sure to be a transformative development, not only for Pompano but for northern Broward County as a whole."

Merrimac Ventures and the Motwani family have been developing and operating in Broward County for more than 30 years, with $3 billion in capital deployed to date and an active pipeline valued in excess of $3.7 billion. Related and Perez family have an equally prolific history in Broward, with neighborhood-defining projects dating back several decades and several billion dollars under active development.

Conveniently located between the urban hotspots of Miami Fort Lauderdale and Palm Beach, Pompano Beach offers an on-the-sand lifestyle at a more accessible price. Pompano Beach has always been a favorite for travelers looking for a low-key, waterfront getaway; however, as demand for South Florida real estate continues to heat up, the quiet beachfront village is now one of the fastest growing real estate markets in the Sunshine State. With robust demand for new construction but very limited supply, Pompano Beach property values have seen a steady climb over recent years.

Significant public improvements, including multi-million-dollar investments into the Downtown arts and entertainment district, combined with continued interest from buyers are expected to add further momentum to this upward trend. Nearby Fishing Village, complete with open-air pavilions and upscale dining concepts, further transforms the area into a lively, pedestrian-friendly community. For those who prefer nature to city life, residents will also be steps away from restored dunes, tree-shaded outdoor attractions, and other beachside activities that define the thriving coastal community.

Meticulously designed by BAMO to complement Pompano’s low-key lifestyle, The Residences will offer an exclusive collection of only 92 residences. The homes are available in a wide variety of floor plans and are crafted to evoke single-family living, ranging from two to five bedrooms and varying in size from 2,100 square feet to 6,100 square feet.

Each residence showcases the same painstaking attention to detail evident across the tower, and comes equipped with a private elevator foyer for maximum privacy, soaring ceilings, and panoramic floor-to-ceiling windows highlighting stunning ocean and intracoastal views. Additional standard features include oversized balconies, custom Italian cabinetry, top-of-the-line Wolf and Sub-Zero appliances. For ease of ownership, the residences are delivered ready to be occupied with a selection of designer finishes.

Renderings via Waldorf Astoria Residences Pompano Beach