Berkadia Arranges $93.6 Million Loan For Palm Beach County Apartment Communities
Senior Managing Director Charles Foschini and Managing Director Chris Apone secured the financing on behalf of the Aventura, Florida-based developer.
Senior Managing Director Charles Foschini and Managing Director Chris Apone secured the financing on behalf of the Aventura, Florida-based developer.
Gordon Messinger, an Executive Vice President with CBRE, represented the landlord in lease negotiations. Clay Sidner with Newmark represented the tenant.
The sellers bought the two properties in 1996.
Morrison negotiated the sale on behalf of the sellers.
Here are the most popular news headlines this past week on CRE-sources.
The loan will allow the developer to ready its 6-acre waterfront site for its slated summer 2023 groundbreaking.
CBRE’s Tom O’Loughlin, Larry Dinner and Larry Genet are the leasing agents for the project.
“As Port Everglades Distribution Center was nearing completion, Challenge Warehousing initially agreed to terms to lease half of the new building. Within one month of leasing 41,099 square feet, Challenge won some new customers and they quickly decided to lease the entire building,” explained Conte.
The property is expected to be completed in February 2023.
Butters Realty & Management office team of Caroline Fleischer, Darcie Lunsford and Sky Butters represented the tenant.
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