Tuttle Land Development scores loan for 200-acre project

Miami /
Mar.March 09, 2020 12:30 PM
Brian Tuttle and a rendering of Tuttle Royale

Brian Tuttle and a rendering of Tuttle Royale

Tuttle Land Development scored an $18 million loan for its planned mixed-use project in Royal Palm Beach known as Tuttle Royale.

Tuttle Land Development, led by Brian Tuttle, secured the loan to refinance 39 acres of Tuttle Royale, a 200-acre, mixed-use community at the intersection of Southern Boulevard and State Road 441, according to a press release. A nonbank mortgage lender based in Canada provided the loan.

Howard Taft and Charles Penan of Miami-based Aztec Group arranged the financing for Tuttle Land Development.

The project will have 1,100 rental apartments and 500,000 square feet of mixed-use development including medical offices, a 1,500-student charter school and a park. It will also feature a 400,000-square-foot lifestyle and activity center. It will have restaurants, a 100-key high-end hotel, a preschool, a bank, and an upscale grocery store, according to the release.

Tuttle began assembling the land from more than 100 owners in 2013. The project is often referred to as the CityPlace of western Palm Beach County.

Tuttle previously said that Toll Brothers is under contract to build the homes, according to the Palm Beach Post. He originally sought to build townhomes on the property, but after some objections from the nearby neighborhood, he changed plans to single-family homes.


Related Articles

arrow_forward_ios
Prentis Wilson and 1880 Sabal Palm Circle (Realtor)

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion
Ed Easton and 501 103rd Avenue North (Google Maps)

Easton Group sells Royal Palm Beach warehouse for $16M

Easton Group sells Royal Palm Beach warehouse for $16M
Clarion Partners CEO David Gilbert and 500 North State Road (Credit: Google Maps)

Clarion Partners sells BJ’s-anchored retail center for $40M

Clarion Partners sells BJ’s-anchored retail center for $40M
Brian Tuttle and a rendering of Tuttle Royale

Brian Tuttle gains key approval for Tuttle Royale project

Brian Tuttle gains key approval for Tuttle Royale project
Southern Palm Crossing with Blackstone president Jon Gray and InvenTrust Properties CEO Thomas P. McGuinness

Blackstone sells Costco-anchored shops to InvenTrust for $97M

Blackstone sells Costco-anchored shops to InvenTrust for $97M
Village Shoppes on 441, Jacob Khotoveli

JBL Asset Management pays $21M for foreclosed shopping center in Royal Palm Beach

JBL Asset Management pays $21M for foreclosed shopping center in Royal Palm Beach
9200 Belvedere Road in Royal Palm Beach

Chinese investors seeking EB-5 visas want a receiver for Royal Palm Beach office project

Chinese investors seeking EB-5 visas want a receiver for Royal Palm Beach office project
American Landmark pays $105M for Plantation, Royal Palm Beach apartment complexes

American Landmark pays $105M for Plantation, Royal Palm Beach apartment complexes

American Landmark pays $105M for Plantation, Royal Palm Beach apartment complexes
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...