BOCA RATON – July 16, 2019 – Greenberg Traurig, P.A.Boca Raton Shareholders Marcia H. Langley and Bruce C. Rosetto led a team of attorneys who closed July 3 on $225 million in financing for the Via Mizner project on behalf of developer Penn-Florida Companies. The transaction is considered the largest this year to date for Palm Beach County.
The funds provided by Madison Realty Capital comprise $215 million for a construction loan and $10 million in mezzanine financing. They will finance the construction of The Residences at Mandarin Oriental, Boca Raton. Located at Via Mizner at the corner of Federal Highway and Camino Real, the 88-unit tower is currently under construction.
“Having worked with Penn-Florida Companies from the beginning of the Via Mizner development, it is very rewarding to see the condo portion of this project come to life,” said Langley, who served as real estate counsel for this transaction, as well as several others on behalf of the company.
She also led a Greenberg Traurig attorney team who represented Penn-Florida in its 2017 closing of $398 million in financing for the construction of the property's 164-room Mandarin Oriental hotel and the Via Mizner Golf & City Club, as well as the refinancing of its 101 Via Mizner luxury apartments. The transaction was considered the largest loan of its kind in South Palm Beach County in 2017.
“It was a pleasure to once again assist with the financing of Via Mizner,” said Rosetto, who served as corporate counsel in the July 3 transaction and worked with Langley on the 2017 transaction. “Each step in the process brings all of the project’s stakeholders closer to the realization of their vision for the property.”
Langley and Rosetto were assisted by Delaware Shareholder Jonathan I. Lessner, Boca Raton Associate Bracha Pollack, and West Palm Beach Associate Charles J. Abrams. Seyfarth Shaw attorneys served as co-counsel.
About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has approximately 2100 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100.
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