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Related Ross, together with JZ Capital Partners and Greenmont Group, has completed a $145 million refinancing for Esperante, a Class A office tower in the Flagler waterfront district of West Palm Beach. The 17-story property totals 256,000 square feet and is positioned along the city’s prominent waterfront corridor. Hudson Bay Capital Management supplied the new financing, with Eastdil Secured acting as intermediary on the transaction.
The ownership group has recently invested in a comprehensive capital improvement program at Esperante, allocating $8 million to renovations. The upgrades have refreshed common areas and amenity spaces, reinforcing the building’s positioning within the high-end segment of the local office market. The property is described as offering expansive views over the waterfront and immediate access to surrounding urban amenities.
Esperante’s amenity package includes 24/7 building security, valet service, a fitness center, and a conference facility. These offerings are complemented by walkable proximity to downtown West Palm Beach, providing convenient access to nearby shopping, dining, and entertainment options. The office tower was originally completed in 1989 and was designed by architecture firm Gensler, giving it a recognizable profile within the city’s skyline.
The building is currently 100 percent leased, underscoring steady tenant demand for well-located, high-quality office space along the waterfront. The tenant roster includes Bank of America, Balyasny Asset Management, and Blue Sea Capital, among others. Occupancy at this level supports the asset’s status as a stabilized, institutional-quality property within the local office market.
Esperante is located adjacent to One Flagler and Phillips Point, two other prominent office properties that, together with Esperante, form a concentrated cluster of Class A assets along the waterfront. This grouping helps anchor a broader office ecosystem in the Flagler waterfront district, reinforcing the area’s role as a key node for financial, professional, and investment firms in West Palm Beach. The new refinancing, supported by a dedicated capital markets intermediary and a private investment manager as lender, further institutionalizes the capital structure behind the asset.
The post Related Ross, Partners Secure $145M Refi for Fully Leased Esperanté Tower in West Palm Beach appeared first on CRE Market Beat.
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