Related Ross secures the biggest construction loan in Florida history
- Jake Nicholas
- Dec 19, 2025
- 2 min read
West Palm Beach just locked in one of the most significant office investments in Florida history.
Related Ross has secured a record-setting $772 million construction financing package for 10 CityPlace and 15 CityPlace, marking the largest construction loan ever recorded in the state and the biggest financing transaction in the company’s history. The loan, led by Ares Real Estate funds with Eastdil Secured serving as exclusive financial advisor, fuels two landmark office towers rising at the center of CityPlace in downtown West Palm Beach.
Together, the projects will deliver nearly one million square feet of next-generation office space by 2027, reinforcing CityPlace’s role as the city’s primary business and lifestyle district. The financing follows a major year for Related Ross, which announced roughly 500,000 square feet of office leases signed across its portfolio in 2025, underscoring continued momentum from major institutional and corporate players.
10 CityPlace will introduce a 470,000-square-foot office tower designed by Kohn Pederson Fox, conceived as a hospitality-driven workplace with a prominent second-level amenity floor featuring indoor and outdoor collaboration spaces. ServiceNow will anchor the building, establishing a West Palm Beach innovation hub and AI Institute that is expected to generate an estimated $1.8 billion in economic impact and more than 850 jobs over the next five years.
Next door, 15 CityPlace will rise 25 stories and span 490,000 square feet, with architecture by Arquitectonica and interiors by Fogerty Finger. The tower’s top five floors feature private terraces with sweeping views of the Intracoastal and Palm Beach Island, while nearly 20,000 square feet of ground-floor retail and dining space will further activate the streetscape.
A rooftop amenity level anchors the building’s lifestyle focus. Cleveland Clinic will serve as a major tenant with a state-of-the-art outpatient facility tied to its nearby hospital campus, alongside tenants including BDO, Shutts & Bowen, Inclenberg Investments, and Related Ross’s expanding headquarters.
Beyond the buildings themselves, the two towers are designed to integrate seamlessly into CityPlace with extensive landscaping, public spaces, and street-level activity, reinforcing walkability and downtown connectivity. The scale of the financing signals a clear vote of confidence in West Palm Beach’s evolution into one of the country’s fastest-growing office and innovation markets.
