Maxim Capital Lends $70M on Boca Raton Resi Tower

Developer Noam Ziv has landed $70 million of construction financing to build a condominium tower in Boca Raton, Fla., Commercial Observer has learned.

Maxim Capital provided the loan for Ziv’s nine-story Glass House Boca Raton development slated for completion in late 2027. 

“This financing will propel Glass House toward completion and solidify its position as a luxury icon in the heart of Boca Raton,” Ziv said in a statement. 

Arrow Real Estate Advisors arranged the transaction with a team consisting of Morris Betesh, Morris Dabbah and Louis Halperin. 

Located at 280 East Palmetto Park Road in Downtown Boca Raton, the 28-residence project has presold more than one-third of the condos with prices ranging from $2.7 million to over $8 million, according to Arrow. Community amenities will include a fitness center, sauna, steam room and lounge. 

“This financing positions the project for continued success as it moves into vertical construction and toward completion in 2027,” Betesh, founder and managing partner of Arrow, said in a statement. 

Josh Greene, managing director at Maxim, said in a statement the loan “supports a transformative condominium development that will elevate the residential landscape in Boca Raton” and that the project’s location has “strong market fundamentals.”

Andrew Coen can be reached at acoen@commercialobserver.com.