Group P6 Launches Florida Luxury Condominium

CIM Group provided a $68.5 million construction loan for the developer.

Royal Palm Residences
Royal Palm Residences is close to Lake Boca Raton and across the street from several upscale dining options. Image courtesy of Group P6

Group P6 has completed Royal Palm Residences, a 48-unit luxury condominium community in Boca Raton, Fla. The developer obtained a $68.5 million construction loan, originated by CIM Group, and broke ground on the project in 2020.

General contractor Suffolk Construction and RLC Architects worked on the development. In 2022, units were reportedly trading from $3.5 to $4.5 million and the project was 90 percent sold out.

The three nine-story buildings encompass three- to five-bedroom floorplans—including six penthouses—ranging from 2,425 to 7,168 square feet. Condos feature dual entry private access, home automation technology, barbecue grills built into outdoor terraces, upscale appliances, as well as 270 degrees of natural light.

Community amenities include a wellness plaza, a gym, a pool deck with sunbeds, a summer kitchen and a spa, a club room with a bar, a 1-year membership with One On One Concierge and two underground parking spaces per unit.

Located at 475 E. Royal Palm Road, the property is less than 1 mile from U.S. Route 1, as well as some 4 miles from Interstate 95. Employers such as Aerospace Technologies Group, Cancer Treatment Centers of America and Akron Biotech are within a 6-mile radius. Group P6 also recently completed 327 Royal Palm, a 25-unit luxury condominium just down the street. Residents can also access various entertainment destinations at the nearby Silver Palm and Wildflower parks, as well as retail and restaurants at Royal Palm Place.

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