West Palm Beach, Florida (February 25, 2026) – Related Ross, JZ Capital Partners and Greenmont Group today announced it has closed a $145 million refinancing for Esperanté, a17-story, 256,000-square-foot Class A office building located in West Palm Beach’s Flagler waterfront district. The financing was provided by Hudson Bay Capital Management and facilitated by Eastdil Secured.
Recently updated through an $8 million renovation, Esperanté features expansive waterfront views, fitness, conference facilities, and walkable access to the city’s downtown district. The office asset is 100 percent leased and home to a roster of leading financial and investment firms, including Bank of America, Balyasny Asset Management, and Blue Sea Capital. The building sits adjacent to One Flagler and Phillips Point, anchoring a thriving office ecosystem along the waterfront.
“Esperanté has become a premier address for top financial and investment firms and demonstrates the Flagler waterfront’s continued appeal as a destination for leading businesses,” said Jordan Rathlev, Executive Vice President at Related Ross. “Closing this refinancing with a new capital partner reinforces the depth of investor conviction in West Palm Beach as a business district. We’re pleased to establish our new capital partnership with Hudson Bay Capital and remain focused on investing in the long-term growth of the waterfront district.”
“We’re excited to partner with Related Ross on this transaction," said Zachary Cion, Managing Director at Hudson Bay . "Related Ross’s commitment and long-term vision for West Palm Beach has been transformational for the city, and we believe the market continues to benefit from strong fundamentals and sustained investment."
The refinancing marks the latest milestone in Related Ross’s continued investment across its West Palm Beach office portfolio, which includes both new development and strategic repositioning initiatives designed to support a diverse mix of financial services, private equity, enterprise technology, and defense-tech companies relocating to and scaling within the market. Beyond individual assets, Related Ross is actively investing in West Palm Beach as a long-term business destination–building a cohesive, mixed-use district that integrates office, infrastructure, and innovation to attract high-growth companies and global capital.
About Related Ross
Led by visionary developer Stephen Ross, Related Ross is a fully integrated real estate company shaping South Florida’s next generation of growth. With more than $10B planned in investment across Palm Beach County, the firm is a market leader in attracting global companies and talent to South Florida.
As a catalyst for regional growth, Related Ross is advancing developments through public-private partnerships that strengthen business ecosystems, expand attainable housing offerings, support world-class healthcare, enhance higher education and K-12 opportunities, and cultivate innovation hubs to accelerate South Florida’s dynamic business and cultural growth. The firm also curates entertainment programming and thought-leadership initiatives that position the region as a national center for ideas and experiences. Its portfolio spans mixed-use, Class AA+ lifestyle office, luxury residential, affordable housing, city centers, hotels and hospitality, and public realm, designed to anchor long-term economic vitality in the communities they build.
Through the Related Ross Foundation, the company ensures equitable growth that expands access to education, employment, and opportunity across the region.
For more information, visit www.relatedross.com.
About JZ Capital Partners
JZ Capital Partners Limited (JZCP) is a London-listed fund advised by Jordan/Zalaznick Advisers, Inc. and led by David Zalaznick and Jay Jordan. JZCP invests in high-quality U.S. and European microcap companies, as well as U.S. real estate, including Esperanté. Over the past four decades, David and Jay have co-founded and led multiple investment firms and funds. Most notably, The Jordan Company (now known as TJC, LP), which they founded in 1982, has grown into a leading private equity firm with more than $30 billion in assets under management. Together, David and Jay have successfully invested in and acquired more than 400 privately held companies.
About Greenmont Group
Greenmont Group is a New York City based real estate investment firm specializing in equity and structured credit investments across major asset classes in select primary and secondary markets throughout the United States. The company was founded by Eyal Greenberg and Josh Honig, who launched their careers in Goldman Sachs' Investment Banking Division before moving on to separate real estate institutions, where they collectively executed $5 billion in transactions. Greenmont Group is dedicated to delivering exceptional value to its investors, partners, and the communities in which it operates. Through strategic acquisitions, disciplined asset management and a commitment to long-term growth, the firm strives to achieve outsized returns in an evolving real estate landscape. Greenmont Group is partnered with David Zalaznick and Jay Jordan on several real estate transactions including Esperante.
About Hudson Bay Capital Management
Hudson Bay Capital Management ("Hudson Bay") is a global investment management firm operating in Stamford, New York, Miami, London, Los Angeles, Dubai, and Hong Kong. Hudson Bay's team seeks to achieve outstanding performance by uncovering market inefficiencies and undervalued investment opportunities that are uncorrelated to each other and to market indices while maintaining a focus on risk management, portfolio construction, and capital preservation. Hudson Bay has been managing assets on behalf of pension plans, sovereign wealth funds, endowments, foundations, high net worth individuals, and families since 2006.
Media Contact:
Orchestra
relatedross@orchestraco.com
