BDT & MSD Partners received unanimous approval from the Boca Raton City Council on Mar. 25 to move forward with a proposed condominium development at the historic Boca Raton resort and club.
The decision allows BDT & MSD to proceed with plans for an eight-story, 76-unit condominium building at 501 East Camino Real. The units will range from two to five bedrooms and be situated on a 5.2-acre site within the resort, according to planning documents. New York-based architecture firm Hart Howarton, led by Jim Tinson, has been selected to design the project.
This rezoning vote was one of the last actions taken by the current city council before a new group of anti-development candidates—who won in a recent landslide election—are sworn in next week.
The original hotel was built in 1926 and designed by architect Addison Mizner. Today, the resort covers 337 acres and features more than 1,000 hotel rooms, extensive meeting space, golf courses, marina facilities, sports courts, and numerous dining options.
BDT & MSD is a merchant bank formed through the merger of Byron Trott’s BDT & Company and Michael Dell’s investment firm MSD Partners. Michael Dell is known as the founder of Dell Technologies. The partnership acquired the resort from Blackstone for $875 million in 2019 and has since invested $75 million into renovations. In addition to securing $1 billion in refinancing in 2024—supported by increased revenue per room—the firm continues investing heavily in luxury hospitality projects across various markets.
