Penn-Florida To Develop Via Mizner Mixed-Use Project

HSBC Bank USA provided a $75 million construction mortgage for the Via Mizner Golf & Country Club, a mixed-use project in Boca Raton to be developed by Penn-Florida.

Camino Investments Holdings, which is managed by Mark Gensheimer, sold the 3-acre site at 800 S. Federal Highway. The site is just north of East Camino Real and on the edge of the Boca Raton Resort & Club.

Although Camino Investments also owns the office buildings on either side of the property, at 700 and 998 S. Federal Highway, the HSBC loan secures only the vacant property.

The Via Mizner project got city approval for 366 rental units mixed with retail, office and a parking garage. According to its website, which promotes the EB-5 VISA program to raise capital for the project, Via Mizner is a $367-million project to be built in three phases. The plans include 12,880 square feet of ground-floor retail, 16,187 square feet of office and 3,446 square feet of upper floor retail. 

Source:  SFBJ