Abacus Nabs 78M Loan: 7 Proven Abacus Capital Secures $78M Loan for Palm Beach Gardens Project, Boosting Local Real

Boosting Local Real Estate Market: Abacus Capital Secures $78M Loan

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var(–wp–preset–gradient–midnight) !important;}.has-small-font-size{font-size: var(–wp–preset–font-size–small) !important;}.has-medium-font-size{font-size: var(–wp–preset–font-size–medium) !important;}.has-large-font-size{font-size: var(–wp–preset–font-size–large) !important;}.has-x-large-font-size{font-size: var(–wp–preset–font-size–x-large) !important;}”,”type”:”list”,”__typename”:”StyleItem”}],”post”:{“id”:”cG9zdDoxMDAwMDcy”,”databaseId”:1000072,”title”:”Abacus Capital scores $78M construction loan for Palm Beach Gardens project”,”status”:”publish”,”slug”:”abacus-nabs-78m-loan-for-palm-beach-gardens-project”,”uri”:”/miami/2025/11/11/abacus-nabs-78m-loan-for-palm-beach-gardens-project/”,”link”:”https://therealdeal.com/miami/2025/11/11/abacus-nabs-78m-loan-for-palm-beach-gardens-project/”,”dateGmt”:”2025-11-11T20:30:00″,”contentTypeName”:”post”,”contentFiltered”:”u003cpu003eAbacus Capital broke ground on its Palm Beach Gardens apartment project after nabbing a $77.5 million construction loan.u003c/pu003enu003cpu003eAffiliates of Beverly Hills, California-based Kennedy Wilson and Toronto-based Fairfax Financial provided the financing for Arbor House, a planned 13-story building with 302 units and an eight-story garage with 480 parking spaces at 3701 Catalfumo Way South, records show.u0026nbsp;u003c/pu003enu003cpu003eA JLL team led by Mona Carlton and Joshua Odessky arranged the loan on behalf of New York-based Abacus Capital, led by CEO Ben Friedman.u003c/pu003enu003cpu003eAbacus Capital is developing Arbor House on a 4.7-acre site acquired last year for u003ca href=”/miami/2024/11/13/catalfumo-sells-pga-station-dev-site-to-abacus-capital-group/”u003e$32.5 millionu003c/au003e from Palm Beach Gardens-based u003ca href=”/miami/2023/10/09/catalfumo-pays-19m-for-palm-beach-gardens-mansion/”u003eCatalfumo Companiesu003c/au003e led by Daniel Catalfumo. The property is within the 37.6-acre PGA Station, a mixed-use community being master developed by Catalfumo.u0026nbsp;u003c/pu003enu003cpu003eUltimately, PGA Station will have 1,016 apartments; a 122-key hotel; 16,000 square feet of retail; 12,500 square feet of restaurant space; and 468,000 square feet of office space. PGA Station will include u003ca href=”/miami/2025/11/11/gatsby-unveils-plan-for-palm-beach-gardens-mixed-use-tower/”u003eThe Modern at Palm Beach Gardensu003c/au003e, a mixed-use building featuring 220,000 square feet of office, retail and restaurant space being developed by Miami-based Gatsby Florida, led by co-founders Isaac Shalom and u003ca href=”/miami/2025/08/19/babak-ebrahimzadeh-sells-offices-to-george-johnnides/”u003eBabak Ebrahimzadehu003c/au003e.u0026nbsp;u003c/pu003enu003cpu003eIn June and July, Abacus Capital demolished two office buildings that were on the Arbor House development site. General contractor Seawood Builders recently filed a notice of commencement to begin construction of the multifamily project, records show.u0026nbsp;u003c/pu003enu003cpu003eDesigned by Coral Gables-based Corwill Architects, Arbor House will have a mix of studio, one-, two- and three-bedroom apartments. About 10 percent of the units will be set aside as workforce housing for tenants earning up to 120 percent of the area median income in Palm Beach County, which is $104,000.u0026nbsp;u0026nbsp;u003c/pu003enu003cpu003eAccording to JLL, u003ca href=”/miami/2025/11/10/advenir-sells-palm-beach-gardens-apartments-to-west-shore/”u003ePalm Beach Gardensu003c/au003e has experienced minimal multifamily development since 2019, and market-rate asking rents have increased 41 percent since 2020 to an average of $2,671 a month.u0026nbsp;u003c/pu003enu003cpu003eFounded in 2004, Abacus Capital focuses on developing and buying multifamily properties, according to the firm’s website. The company has $4.8 billion in assets under management.u0026nbsp;u003c/pu003en”,”noAds”:false,”alternativeHeadline”:{“subheadline”:”New York-based firm is planning Arbor House, 13-story building with 302 apartments”,”__typename”:”AlternativeHeadline”},”updatedPost”:{“updated”:false,”date”:”2025-11-11T20:35:00+00:00″,”__typename”:”UpdatedPost”},”aiSummary”:{“summary”:”u003cpu003eu003c!– wp:list –u003eu003c/pu003ernu003cul class=”wp-block-list”u003eu003c!– wp:list-item –u003ernu003cliu003eAbacus Capital secured a $77.5 million construction loan from affiliates of Kennedy Wilson and Fairfax Financial for its Arbor House apartment project in Palm Beach Gardens.u003c/liu003ernu003c!– /wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eArbor House will be a 13-story building with 302 units, with 10 percent of the apartments set aside as workforce housing. The project is beginning construction on a 4.7-acre site within the larger PGA Station mixed-use community.u003c/liu003ernu003c!– /wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe development is timed for a market that has seen minimal multifamily growth since 2019, with average asking rents in Palm Beach Gardens rising 41 percent since 2020 to an average of $2,671 a month.u003c/liu003ernu003c!– /wp:list-item –u003eu003c/ulu003ernu003cpu003eu003c!– /wp:list –u003eu003c/pu003e”,”reviewed”:true,”disabled”:false,”autoGenerate”:false,”__typename”:”AISummary”},”audioArticleSettings”:{“audioUrl”:”https://eleven-public-cdn.elevenlabs.io/audio-native/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac/BWjdA3d3HCohiKsvYXW3/BWjdA3d3HCohiKsvYXW3.mp3″,”__typename”:”AudioArticleSettings”},”mainArt”:{“mediaType”:”image”,”image”:{“node”:{“sourceUrl”:”/wp-content/uploads/2025/11/MIA-78M-construction-Loan-1400×933.jpg”,”srcSet”:”/wp-content/uploads/2025/11/MIA-78M-construction-Loan-1400×933.jpg 1400w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan-300×200.jpg 300w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan-700×467.jpg 700w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan-200×133.jpg 200w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan-768×512.jpg 768w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan-1024×683.jpg 1024w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan-50×33.jpg 50w, /wp-content/uploads/2025/11/MIA-78M-construction-Loan.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eAbacus Capital Group CEO Ben Friedman with a rendering of Arbor House multifamily project at 3701 Cau0026#8230;u003c/pu003en”,”altText”:”Abacus Capital Group CEO Ben Friedman with a rendering of Arbor House multifamily project at 3701 Catalfumo Way South (Abacus Capital Group)”,”__typename”:”MediaItem”},”__typename”:”AcfMediaItemConnectionEdge”},”video”:null,”caption”:”Abacus Capital Group CEO Ben Friedman with a rendering of Arbor House multifamily project at 3701 Catalfumo Way South (Abacus Capital Group)”,”__typename”:”MainArt”},”featuredImage”:{“node”:{“sourceUrl”:”https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-1400×933.jpg”,”srcSet”:”https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-1400×933.jpg 1400w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-300×200.jpg 300w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-700×467.jpg 700w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-200×133.jpg 200w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-768×512.jpg 768w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-1024×683.jpg 1024w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan-50×33.jpg 50w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA-78M-construction-Loan.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eAbacus Capital Group CEO Ben Friedman with a rendering of Arbor House multifamily project at 3701 Cau0026#8230;u003c/pu003en”,”altText”:”Abacus Capital Group CEO Ben Friedman with a rendering of Arbor House multifamily project at 3701 Catalfumo Way South (Abacus Capital Group)”,”mediaDetails”:{“sizes”:[{“width”:”1400″,”height”:”933″,”__typename”:”MediaSize”}],”__typename”:”MediaDetails”},”__typename”:”MediaItem”},”__typename”:”NodeWithFeaturedImageToMediaItemConnectionEdge”},”__typename”:”Post”,”template”:{“templateValue”:”right-rail”,”__typename”:”DefaultTemplate”},”seo”:{“title”:”Abacus Nabs $78M Loan For Palm Beach Gardens Project”,”fullHead”:”u003c!– This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1.1) – https://yoast.com/wordpress/plugins/seo/ –u003enu003cmeta name=”description” content=”Abacus Capital nabbed a $77.5 million construction loan for its Palm Beach Gardens apartment project.” /u003enu003cmeta name=”robots” content=”index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1″ /u003enu003clink rel=”canonical” href=”https://therealdeal.com/miami/2025/11/11/abacus-nabs-78m-loan-for-palm-beach-gardens-project/” /u003enu003cmeta property=”og:locale” 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Affiliates of Beverly Hills, California-based Kennedy Wilson and Toronto-based Fairfax Financial provided the financing for Arbor House, a planned 13-story building with 302 units and an eight-story garage with 480 parking spaces at 3701 Catalfumo Way South, records show.u0026nbsp; A JLL team led by Mona Carlton and Joshua Odessky arranged the loan on behalf of New York-based Abacus Capital, led by CEO Ben Friedman. Abacus Capital is developing Arbor House on a 4.7-acre site acquired last year for $32.5 million from Palm [u0026hellip;]” /u003enu003cmeta name=”twitter:creator” content=”@trdny” /u003enu003cmeta name=”twitter:site” content=”@trdny” /u003enu003cmeta name=”twitter:label1″ content=”Written by” /u003entu003cmeta name=”twitter:data1″ content=”Shea Monahan” /u003entu003cmeta name=”twitter:label2″ content=”Est. reading time” /u003entu003cmeta name=”twitter:data2″ content=”2 minutes” /u003enu003cscript type=”application/ld+json” class=”yoast-schema-graph”u003e{“@context”:”https://schema.org”,”@graph”:[{“@type”:”NewsArticle”,”@id”:”https://therealdeal.com/miami/2025/11/11/abacus-nabs-78m-loan-for-palm-beach-gardens-project/#article”,”isPartOf”:{“@id”:”https://therealdeal.com/miami/2025/11/11/abacus-nabs-78m-loan-for-palm-beach-gardens-project/”},”author”:[{“@type”:”Person”,”@id”:”https://therealdeal.com/#/schema/person/c342492cb602b1402a4b81a39a649189″,”name”:”Francisco 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Affiliates of Beverly Hills, California-based Kennedy Wilson and Toronto-based Fairfax Financial provided the financing for Arbor House, a planned 13-story building with 302 units and an eight-story garage with 480 parking spaces at 3701 Catalfumo Way South, records show.u0026nbsp; A JLL team led by Mona Carlton and Joshua Odessky arranged the loan on behalf of New York-based Abacus Capital, led by CEO Ben Friedman. 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The loan was arranged by JLL on behalf of New York-based Abacus Capital, led by CEO Ben Friedman. The project is being developed on a 4.7-acre site acquired last year for $32.5 million from Palm Beach Gardens-based Catalfumo Companies.

Abacus Nabs 78M Loan: Practical Checklist

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FAQ: Abacus Nabs 78M Loan

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