El-Ad Tops Off Phase II of Boca Raton Luxury Condos
The project is subject to a $52.8 million loan from Deutsche Bank.
El-Ad National Properties, a subsidiary of Elad Group, has topped off Alina 210, part of the second phase of Alina Residences, a luxury condominium development in Boca Raton, Fla.
At full build-out, the community will comprise a total of 303 units. The second phase of Alina Residences is subject to a $52.8 million loan from the New York branch of Deutsche Bank, while the first phase benefited from $146 million in construction financing from Deutsche Bank and Bank Hapoalim, as reported by the South Florida Agent.
Architect Peter Stromberg of Garcia Stromberg is the property’s designer, while Moss Construction serves as general contractor. Douglas Elliman Development Marketing is handling sales.
The second phase encompasses two buildings, Alina 210 and Alina 220, which broke ground in March 2022, and are scheduled for completion in late 2024. Alina 210 will include 30 three- and four-bedroom residences across nine stories ranging from 3,300 to 5,400 square feet, with prices starting at roughly $4 million. It is also slated to feature amenities such as a private spa, dry sauna, fitness facility and swimming pool.
Alina 220 will comprise 152 one- to four-bedroom units, as well 19,000 square feet of amenity space. In total, phase two will add about 2 acres of resident facility space, incorporating multiple rooftop pools, two dog parks, fire pits and spas.
In the heart of Boca Raton
Located at 200 SE Mizner Blvd., the property is adjacent to a wide variety of retail, dining and entertainment options. It is off Highway 1 and within walking distance of the downtown Boca Raton Plaza. In its immediate vicinity sit the city’s green fairways and the Boca Raton golf club.
El-Ad CEO Noam Ziv stated in prepared remarks that Alina Residence’s first phase enjoyed tremendous success and the second component is already 50 percent sold. Douglas Elliman CEO Jay Parker added that Boca Raton’s downtown has transformed in accordance with the developer’s vision. Despite new safety regulations, Florida’s condo market has continued to flourish.