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eveloper Steve Ross's Related Ross secured a $200 million refinancing for part of the CityPlace complex in downtown West Palm Beach. This deal marks another significant financing transaction in South Florida despite high interest rates. The loan replaces an existing $132.9 million balance and adds $67.1 million to the total, coming from Ares Commercial Real Estate.

    Ross founded Related Companies 52 years ago and has worked on notable projects like Hudson Yards and Deutsche Bank Center. He recently stepped back as CEO of Related Companies and launched Related Ross, focusing on downtown West Palm Beach. The company has over a dozen office and residential buildings in the area.

    The refinancing matures in 2027 and will help fund ongoing developments at CityPlace, including two large office buildings replacing an AMC theater and a closed restaurant. Retail tenants include BurgerFi, H&M, and Eataly, which is set to open next year. Related Ross also plans to redevelop parts of the complex.

    Ross's investment in downtown West Palm Beach has increased significantly over the past four years, with many out-of-state companies leasing space there. The area has become a prime destination for office and residential developments.