Related Group, BH Land $200M to Build Ritz-Carlton Condo in West Palm Beach
Commercial Observer reported that Madison Realty Capital provided a $200 million construction loan to Related Group and BH Group for the Ritz-Carlton Residences, a 27-story, 138-unit luxury condominium tower in West Palm Beach. The project, designed by Arquitectonica with interiors by Rockwell Group, broke ground last month and is expected to deliver in 2028 — with over 70% of units already presold, representing more than $150 million in sales. Madison co-founder and managing principal Josh Zegen noted the firm was pleased to provide a competitive, low-leverage capital solution with bank-comparable terms, reflecting both the strength of the collateral and a longstanding borrower relationship. The deal underscores Madison's continued presence in South Florida's thriving luxury residential market.
