$400 Million Financing Closes for West Palm Point, a 23-Story Downtown Office Tower Due in 2029
Cooper Horowitz arranged the full construction financing for the 438,000-square-foot tower that will take an entire downtown block — the latest nine-figure commitment to West Palm Beach's office boom.
WEST PALM BEACH — Downtown's office-tower pipeline has its financing. Developer Charles S. Cohen, president and chief executive of Cohen Brothers Realty Corporation of Florida, announced that Cooper Horowitz has arranged full construction financing for West Palm Point, a $400 million project slated for delivery in the first quarter of 2029.
The tower, as the developer describes it, is a 438,000-square-foot, 23-story Class AA+ office building occupying an entire city block in the heart of downtown, designed by Pelli Clarke & Partners with Nichols Architects as architect of record. The plans include ground-level retail, a 30-foot lobby, energy-efficient windows and a 10-story standalone parking garage with about 1,200 spaces. Leasing is being handled by CBRE's John K. Criddle and Joseph Freitas, with Marc Horowitz of Cohen Brothers.
The site sits inside the cluster that has driven the downtown building wave — near the Palm Beach County Convention Center, the Kravis Center, the Hilton, CityPlace and the Brightline station, with Palm Beach Island and I-95 close by. A financing close is not a groundbreaking, and the developer's 2029 delivery date is its own projection; but in a market where announced towers regularly wait years for money, a fully financed $400 million project is the step that separates a rendering from a building program.
