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Czech ICP Group will build its third real estate project in the USA

In Palm Beach Garden, Florida, ICP Group will build the Solera residential complex for more than 860 million crowns, which combines 136 above-standard housing units with commercial and social spaces, including a restaurant and a swimming pool.

Palm Beach Garden is a city of 50.000 inhabitants near Miami, sometimes nicknamed the “Capital of Golf” thanks to its PGA headquarters and twelve courses, where the most prestigious tournaments have been played.

Solera itself is located right in the heart of the city. It will offer a total of 136 two- to four-room apartments with an area of ​​65 to 112 m2. Under an agreement with the city, ten percent of the capacity will be leased at a discounted price to municipal and state administration employees with an income not exceeding 120% of the average.

ICP has been investing in the USA since 2018

ICP has been investing in the USA since 2018, when it bought the already functioning Belcan Property office building in West Palm Beach for more than half a billion crowns (with a loan from JP Morgan Chase). 

Another project currently under construction is Seaward Landing in the southern Florida Keys. It is the construction of multi-generational houses with 45 units, which will be sold by the tenants as a return on investment. 

Seaward Landing is a joint project of ICP CP and INDEX, in which they have jointly invested more than 270 million crowns.

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