CP Group-Led JV Lands $272M for Mixed-Use Boca Raton Campus
The developers paid $193 million for the mixed-use complex with 272 apartments and 544,852 square feet of office and retail space
By Julia Echikson November 11, 2026 1:25 pm
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A joint venture led by CP Group has secured $271.5 million in financing from a Blackstone fund for the acquisition and planned renovation of the 30-Acre Mizner Park complex in Downtown Boca Raton, Fla., property records show.
The JV paid $193 million for the 838,840-square-foot Mizner Park, which sits adjacent to the Boca Raton Museum of Art, along North Dixie Highway, near the Brightline station. The property houses 268,391 square feet of office space, 276,461 square feet of retail space and 272 apartments across 293,988 square feet.
CP Group originally developed Mizner Park between 1991 and 1999 on land owned by the city. Last week, the Boca Raton-based investor gained control of the asset — with partners Georgetown Company, Acre and StepStone — through ground leases.
The transaction breaks down to $113.1 million for the retail component, $46.3 million for the residential component, and $33.5 million for the office component, according to documents filed to Palm Beach County. The previous lessee, Brookfield, gained control of Mizner Park in 2018 through its $9 billion acquisition of General Growth Properties.
“Our goal is to bring new energy and investment to this landmark destination while preserving what has made it such an important part of the community and a jewel of the city for generations,” Angelo Bianco, managing partner of CP Group, said in a statement.
The surplus in financing from Blackstone Real Estate Debt Strategies will likely fund the planned renovations, which include upgrades to the building’s facades, landscaping, back-of-house infrastructure, and office common areas. Acre will oversee the multifamily component of Mizner Park, including a renovation.
JLL’s Danny Finkle, Matt McCormack and Michael Roukis represented the sellers, while Danny Kaufman, Preston Bacon and Paul Stasaitis, also from JLL, arranged financing.
The purchase comes just three months after CP Group sold the 1.7 million-square-foot BRiC office campus in Boca Raton to Stephen Ross’s Related Ross for an undisclosed amount.
Julia Echikson can be reached at jechikson@commercialobserver.com.
