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BBX, PCCP land $31M construction loan for Delray Beach industrial project

Financing is for first phase of three-building warehouse complex on 40 acres

A team consisting of 300 workers and 1,200 cement mixers recently completed pouring the foundation for the Okan Tower, a towering structure reaching 902 feet in height, located in downtown Miami.

This monumental building, set to open its doors at 555 North Miami Ave. in 2027, will soar 70 stories high. It will boast 163 luxurious “Sky Residences,” along with 236 short-term rentals managed by Hilton Hotels & Resorts, in addition to the Hilton Miami Bayfront Hotel. Furthermore, the tower will include 64,000 square feet of top-notch office space.

Residents will enjoy exclusive access to a 12th-floor amenity level, featuring a club room for owners, a pool deck, a fitness center, a wine cellar, a spa, and a business center. Moreover, they’ll have the privilege of relishing a rooftop experience on the 70th floor, complete with a pool surrounded by private cabanas.

BBX, PCCP land $31M construction loan for Delray Beach industrial project
From left: A photo illustration of BBX CEO Jarett Levan and PCCP Senior Managing Partner Donald Kuemmeler along with an aerial view of the development site at 9773 and 9863 Happy Hollow Road in Delray Beach (Getty, BBX, PCCP, Google Maps)

Bekir Okan, Chairman of the Okan Group, expressed immense pride and excitement as the vision for Miami’s skyline comes to fruition. He stated, “Okan Tower embodies the vibrant and dynamic future awaiting Downtown Miami. We eagerly anticipate the next phase of construction as we ascend vertically.”

Designed by the renowned architecture firm Behar Font & Partners, the skyscraper marks the debut U.S. project for Turkey’s Okan Group. Sales and marketing for the condominiums are being handled by Fortune Development Sales.

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