Jason Hochman, Mike Ciadella and Ron Granite of Cushman & Wakefield’s Equity Debt and Structured Finance team secured the new long-term, non-recourse loan through BankUnited.
The property was listed on November 16, under contract December 12 and closed on February 26 at 93.3% of list price.
Here are the most popular news headlines this past week on CRE-sources.
Avison Young’s John K. Crotty, CCIM, Michael T. Fay, David Duckworth, Brian C. de la Fé, and Associates Emily Brais and Berkley Bloodworth closed the sale on behalf of the seller, Hersha Hospitality Trust.
The buyer plans a multi-million-dollar project renovation to include an innovative restaurant design upgrade and additional penthouse units.
Hernandez Development , along with development partners Stiles, Merrimac Ventures and JL Capital and Management, have recently completed the 130,852-square-foot self-storage facility with ground floor retail in Fort Lauderdale.
The asset was the second of the seller’s 100% occupied, two-building portfolio to sell within three months, both sales totaling $17.2 million.
The project is on a fast-track for completion in the second quarter of 2021.
The newest team member will help as part of Berger’s investment sales, land brokerage and acquisitions and dispositions services for both corporate clients and private investors.
Maggie Kurtz, Kevin Gonzalez and Jake Freeman of CBRE are leasing the building on behalf of the landlord.