Shell Bay, a 150-acre private development in Hallandale Beach, has secured $333 million in construction financing from Witkoff Group and PPG Development. The project will include Auberge-branded residences, a hotel, and the area’s first private golf club in decades. J.P. Morgan, BDT&MSD Partners and Connect One provided the funding for this highly anticipated project.
Represented by Faisal Ashraf of Lotus Capital Partners on the transaction, the financing structure is unique with different lenders providing funds for various parts of the 130+ acre property. Additionally, lenders are working together in a senior/subordinate format to support Shell Bay’s business plan.
In partnership with Premium Capital who acquired the property back in 2018 , developers are excited to bring Shell Bay Club , Auberge Hotel , and Branded Residences to life.
Residents can look forward to an exclusive food and beverage program offering private dining options as well as access to amenities such as a swimming pool, full-service medical day spa,and state-of-the-art fitness center featuring both indoor and outdoor facilities.
