North American Development Group Lands $106M to Build Boca Raton Rental
By Julia Echikson May 19, 2026 1:52 pm
reprints
North American Development Group (NADG) scored a $105.5 million construction loan for a multifamily development in Boca Raton, Fla., property records show.
U.S. Bank, acting as administrative agent for a group of lenders, provided the financing for the 294-unit Nuvo Midtown Boca. The project will include a six-story residential building and a five-story parking garage, with amenities including a pool, a fitness center, coworking, and a pickleball court.
The Bizi Arq-designed project will rise at 1850 North Military Trail, facing I-95 and east of Simon Property Group’s indoor Town Center at Boca Raton mall. Construction got underway this week.
The West Palm Beach, Fla.-based developer purchased the 6.7-acre site last year for $21.1 million, per records.
The project will mark NADG’s third project in Boca Raton. Last year, it completed the 125-acre Nuvo Boca single-family home development. It has also launched the Aletto at Sanborn Square mixed-use development in the town’s downtown, housing about 140,000 square feet of office space and 23,000 square feet of retail, although construction has yet to start.
A representative for NADG has yet to respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
