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Tricera Capital has secured a $50.75 million construction loan to redevelop The Press in West Palm Beach. Monroe Capital closed the loan through its Opportunistic Private Credit group, which focuses on complex and special situation structured debt and equity.

The adaptive-reuse project is located on 11 acres at 2751 S. Dixie Hwy. on the Palm Beach Post campus. The existing structures are being preserved, and the project will also include a 125,000 square feet of retail called Shops at the Press, and 140,000 square feet of office space branded, called Workspaces at the Press. Scott Sherman, Principal at Tricera Capital, said that the tenant mix is starting to come together with retailers that will complement the property.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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