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Kitson Gets $750M Commitment

PALM BEACH GARDENS, FL-Evergreen Real Estate commits $750 million to the local developer.

By Crystal Proenza | Updated on September 10, 2008

(Crystal Proenza is associate editor of Real EstateFlorida.)

PALM BEACH GARDENS, FL-Locally based Kitson & Partners has secured $750 million in equity from partner Evergreen Real Estate Partners. The Chicago-based investor had worked with Kitson on developments in the past and will provide the financial backing to acquire retail and residential projects throughout the state.

Kitson owns 11 shopping centers statewide and is developing over 25,000 residential units, 19,500 of which are located on the Babcock Ranch Community in Southwest Florida. The ongoing project is working to create an environmentally sensitive community with six million sf of commercial space on 17,870 acres.

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