Michael Dell-Backed Firm Bets on Luxury Condo Boom in Boca Raton

BDT & MSD Partners, an investment firm backed by billionaire Michael Dell, is betting on sleek high-rise luxury condos in Boca Raton, Florida, as a wealth boom changes the landscape of the traditionally sleepy retirement mecca.

The 75-unit condo project is planned for The Boca Raton, a sprawling 100-year-old resort that was acquired by Dell’s MSD Partners for $875 million in 2019. Since then, the founder and chief executive officer of Dell Technologies Inc. merged MSD with former Goldman Sachs Group Inc. banker Byron Trott’s BDT & Co. Together, they’ve now invested some $375 million in renovations and upgrades at the landmark hotel.