Related Ross and its investment partners have secured a $145 million refinancing for Esperanté Corporate Center, a downtown West Palm Beach office property.
The borrowing group—led by Steve Ross’ West Palm-based Related Ross and joined by JZ Capital Partners and Greenmont Group—obtained the new loan from Hudson Bay Capital Management, according to a company announcement. Eastdil Secured arranged the financing.
The 17-story Esperanté building, located at 222 Lakeview Avenue, totals 256,000 square feet and dates to 1989. The refinancing equates to roughly $566 per square foot.
The ownership team recently completed an $8 million upgrade to the property. The tower is fully leased, with a roster that includes Bank of America, Balyasny Asset Management, and Blue Sea Capital.
Ross first acquired an interest in Esperanté in 2021, early in his broader expansion strategy in downtown West Palm. The property sits next to One Flagler, Related Ross’s newly delivered office tower, and is also close to Phillips Point, the office complex Ross acquired in 2021 for $282 million.
