When it comes to luxury living, Boca Raton, Florida, is a city that knows no bounds. Enter the Alina Residences, a prestigious condo complex, where opulence meets modernity. As construction for the second phase of this luxurious development progresses, El-Ad National Properties is taking it up a notch. Let’s delve into this exciting expansion and explore what sets it apart.
The Resplendent Alina Residences
Alina Residences is a testament to lavish living, and the second phase of this extraordinary project is already making waves. This 183-unit condo complex, situated at 310 SE Mizner Boulevard, is well on its way to becoming a hallmark of luxury in Boca Raton. Construction has been in full swing since September 2022, nestled just west of the Boca Raton Golf Club. The splendid surroundings provide an ideal backdrop for this premier development.
An Elevated Financial Leap
The developer of Alina Residences, El-Ad National Properties, a division of the renowned Elad Group owned by Israeli billionaire Isaac Tshuva, has secured a substantial boost to its construction loan. Initially securing a $100 million construction loan from Kriss Capital last year, they’ve now seen this loan soar to $130 million. Acting as the administrative agent, UMB Bank has played a pivotal role in this financial enhancement. With these additional resources at their disposal, the second phase of the project is poised to reach even greater heights.
The Future of Luxury Living
The Alina Residences project has already gained significant traction, with approximately 70 percent of the units having found their new owners. This two-building property is well on track to be completed in the upcoming year. Meanwhile, El-Ad had previously completed the first phase of Alina in 2021, offering 121 condo units at 200 SE Mizner Boulevard, right next door.
Luxury living in Boca Raton is clearly on the rise, with the Alina project leading the way. In a similar vein, Penn-Florida Companies recently increased their construction loan for The Residences at Mandarin Oriental, a neighboring condo building along Mizner Boulevard. This upswing in luxury developments is shaping the future of Boca Raton as it continues to offer residents and investors an unparalleled living experience.
Conclusion: A Glimpse into Boca Raton’s Lavish Future
With Alina Residences at the forefront of Boca Raton’s luxury real estate landscape, the city is set to redefine upscale living. The combination of impeccable design, premium location, and an elevated construction loan positions Alina as a frontrunner in the luxury real estate market. As development continues and future residents eagerly anticipate the project’s completion, Boca Raton is poised to emerge as an iconic hub for luxurious living on Florida’s southeastern coast.
