The Coastal Star

Business Spotlight: Final loan secured to complete Residences at Mandarin

The Mandarin buildings will dominate the northeast corner of Camino Real and Federal Highway. Rendering provided

By Christine Davis

Penn-Florida Cos. has secured a $225 million construction loan from Madison Realty Capital for the third and final tower of The Residences at Mandarin Oriental, 105 E. Camino Real, Boca Raton.
Construction of The Residences, which commenced several months ago, is scheduled to be completed in less than two years along with the new Mandarin Oriental Hotel.
Anthony Orso, president of Newmark Capital Market Strategies, arranged the financing. Rochelle LeCavalier, vice president of sales of Douglas Elliman Development, is handling sales and marketing of the condo units, which start at $2 million.

Also in July, Deutsche Bank and Bank Hapoalim provided a $146 million construction loan for phase one of Alina Residences to El-Ad National Properties, an Elad Group company. The project broke ground at Southeast Mizner Boulevard in Boca Raton this year, and construction is underway on 121 one- to four-bedroom condominiums designed by Garcia Stromberg/GS4 Studios. They are slated for completion in the fourth quarter of 2020. Prices range from just under $1 million to over $6 million.

Mike Walsh has listed his 8,796-square-foot, six-bedroom home at 1003 Rhodes Villa Ave., Delray Beach, for $6.295 million with Nicholas Malinosky and Randy Ely, agents with Douglas Elliman.
The property has 243 feet on the Intracoastal Waterway and is equipped to fit two 112-foot yachts. Amenities include a movie theater, gym and wine room. Walsh is president at Ocean Properties Ltd., a privately held hotel management and development company that has more than 30 hotels in Florida and operates more than 100 properties in North America.  

Real Trends, an industry publication, listed several real estate agents who serve the coastal area in south Palm Beach County on its “The Thousand” rankings for 2018. The annual awards list the top one-half percent of the nation’s real estate professionals.
In the Individuals by Sales Volume category, David Roberts, Royal Palm Properties, Boca Raton, placed 42nd with $173,474,000. Candace Friis, the Corcoran Group, Delray Beach, placed 73rd with $142,952,038. Pascal Liguori, Premier Estate Properties, Delray Beach, placed 76th with $140,678,000.  
For the category Teams by Volume, Nicholas Malinosky and Randy Ely of Douglas Elliman, Delray Beach, placed 188th with $148,558,425.

Mentor and career coach Deborah Bacarella has joined RE/MAX Advantage Plus. She can be reached at 239-2300 or MyRealEstateCareerCoach@gmail.com.

Owners Camelly Cancella and Carol Cook of ShearLuck Salon in Delray Beach celebrated a major expansion at a grand reopening party in June. “We are so excited to see the new salon take shape. We love the contemporary but casual feel,” said Cancella. “The new space shows off our passion and creativity. We thought through every detail. We even brought in chairs and sinks from Italy. We opened up the space to increase the natural lighting and increased the amount of workstations.”
The salon is at 530 NE Second St. in Delray Beach.

Dr. Kristin Quisenberry, known as “Dr. Q,” has been named the new lead veterinarian at Sandoway Discovery Center.
Dr. Scott McOwen, an original founder of the center who has guided its animal-care efforts for two decades, has been named director emeritus.
“Dr. McOwen’s dedication and commitment toward education and preservation of our coastal ecosystem is inspiring,” Quisenberry said. “I am excited to build upon his foundation and continue his standard of care, community involvement and work to support Sandoway’s mission.”
Quisenberry, who has a private practice in Delray Beach, is passionate about animal rescue and volunteers weekly with organizations that provide medical treatment and care for stray pets.

The Delray Beach Chamber of Commerce Chairman’s Club recently hosted a presentation by Carolyn Gosselin, senior vice president of investor relations with the Florida State Chamber of Commerce. Her “Uniting Business for Good” rated construction, professional and business services and health services at the top in 2019 Florida forecasts for jobs created and industry growth rates.
The state Chamber of Commerce says that “Florida’s economy is rebounding at a pace that has other states looking to us for leadership. Our state is growing by more than 1,000 net new people a day, we are the third-most populous state in the nation, welcoming more than 105 million visitors each year.”

The Gold Coast PR Council recognized excellence by local public relations and marketing professionals with a luncheon ceremony.
Awards were presented in 15 categories, 12 of them competitive and three selected by the council’s board of directors.
Recipients included Boynton Beach Public Communications & Marketing Department, Clerk & Comptroller Palm Beach County, Community Foundation for Palm Beach and Martin Counties, Cultural Council of Palm Beach County, Florida Atlantic University, Kaye Communications, Labor Finders International, Palm Beach County Constitutional Tax Collector, PR Czar, Tenet Florida Physician Services, The Buzz Agency and Tilson PR.
The Founders Award went to Debbie Wemyss, the PR Star was Ali Soule, and the Judges Award went to Moore PR.
The Presidents Award went to the South Florida Sun-Sentinel for its sensitive coverage of the Parkland school shooting and aftermath.

The South Florida Science Center and Aquarium, 4801 Dreher Trail N., West Palm Beach, received two awards for its work in the STEM educational field: the Florida Department of Education Commissioner’s Business Award and the School District of Palm Beach County’s Business Partner Gold-level Award.

Through a partnership with the American Boat and Yacht Council, Palm Beach State College now offers a curriculum designed to train marine service technicians. Students will gain hands-on experience in labs and on boats and each receive a postsecondary adult vocational certificate. Graduates also leave the program with ABYC student certification.
Classes for the program start Aug. 22, and those interested in enrolling should attend the information session on Aug. 7, from 5 to 6:30 p.m. in room ETD 103 of the Education and Training Center on the Lake Worth campus, 4200 S. Congress Ave.
For more information, call Eligio Marquez Jr., transportation technology program director, at 868-3542 or email marqueze@palmbeachstate.edu. More information is also available at www.palmbeachstate.edu/programs/Marine-Service-Technology.  
The expanding marine industry in Palm Beach, Broward and Miami-Dade counties had an estimated economic impact of $12 billion in 2018, an increase from $11.5 billion in 2014, according to a study by Thomas J. Murray and Associates, provided by the Marine Industries Association of Palm Beach County. This growth translates to a 2018 total of 32,323 employees in marine services in the tricounty area.

In July, Palm Beach Media Group, a subsidiary of Hour Media and publisher of Palm Beach Illustrated and Naples Illustrated, acquired the assets of Florida Design magazine and its family of home design publications, which were headquartered in Boca Raton.

The League of Women Voters of Palm Beach County’s Topic Luncheon at 11 a.m. Aug. 21 will feature Wendy Sartory Link, Palm Beach County supervisor of elections. The cost to attend is $25 before Aug. 14, and $35 afterward. It will be held at the Atlantis Country Club, 190 S. Atlantis Blvd. RSVPs are requested either at www.lwvpbc.org or by calling Esther Friedman at 968-4123.

The Boca Chamber and JM Lexus Wine & All That Jazz celebration on Aug. 24 will be held at the Boca Raton Resort & Club. Guests will enjoy 100 varieties of wine, cocktails and dinner by the bite from several of Boca’s top restaurants as well as live music, entertainment and dancing. For more information and to register, visit www.wine-and-jazz.com/register-now.html. General admission is $75.
Also, Boca Chamber Festival Days, an annual August happening where nonprofit chamber members join forces with for-profit chamber members, offers residents the opportunity to partake in a select variety of community events. For a list, visit https://web.bocaraton chamber.com/Advocacy/boca _chamber_festival_days.aspx.

Send business news to Christine Davis at cdavis9797@gmail.com

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