Estate Companies Lands $60M to Build Palm Beach County Rental
By Julia Echikson September 5, 2025 1:40 pm
reprints
The Estate Companies secured a $60 million construction loan for a garden-style, multifamily development in Riviera Beach, Fla., the South Miami-based developer announced.
The financing from BB Americas Bank will fund Soleste on the Trail, a 255-unit, four-building development at 7820 North Military Trail, west of Interstate 95. The site is roughly eight miles northwest of Downtown West Palm Beach.
Construction is expected to be completed in the second quarter of 2027. Apartments will range from 700 to 1,000 square feet, and amenities will include a pool, a gym, a dog park, and a coworking lounge.
Jim Fried, president of Sandstone Realty Advisors, brokered the financing. The developer purchased the 15-acre site for $8 million in 2022, according to property records.
Led by Robert Suris and Jeffrey Ardizon, Estate Companies has a pipeline that includes 5,000 rental units across South Florida. Last year, the development firm secured a $64 million construction loan from TD Bank to build a 354-unit, garden-style development in Homestead.
Within Palm Beach County just this week, The Richman Group obtained a $47 million construction loan for a 195-unit, workforce housing development in Lake Worth.
Julia Echikson can be reached at jechikson@commercialobserver.com.
