Royal Palm Cos., Forest Development close on $269m construction loan for Nautilus 220

Forest Development has engaged in a joint venture partnership with Royal Palm Companies for Nautilus 220, located at 220 Lake Shore Drive in Lake Park, Fla.

The mixed-use development comprises 330 one-to-three-bedroom residences in two, 24-story towers ranging from 1,100 square feet to 3,400 square feet. Featuring various floor plans with unobstructed views of the Intracoastal Waterway and Atlantic Ocean, plunge pools, summer kitchens and hot tubs. An array of amenities includes a one-acre outdoor amenity deck, resort-style pool, rooftop lap pool, wellness plaza, putting green, club room, theater lounge, billiards, mini-bowling, off-leash dog run, guest suites and private beach-club access.

A $269 million construction loan from Fortress Investment Group has closed for Nautilus 220, with financing arranged by Concord Summit Capital.

“Our team is committed to creating value with all of our projects,” said Peter Baytarian, managing partner, Forest Development.