Sperry – RJ Realty’s Ron Osborne Reps Seller And Buyer In Purchase Of Automotive Facility In Ft. Lauderdale
The property sold for $1,575,000.
The property sold for $1,575,000.
Financing for the development includes a $32.2 million tax credit equity from Bank of America; a $9.1 million conventional first mortgage loan from Berkadia/Freddie Mac; a subordinate $6 million Surtax loan from Miami-Dade County; and the balance with developer equity.
Florida East Coast Realty (FECR) is offering commercial/office space for lease at the building ranging from approximately 19,000 square feet on the 16th floor to 52,000 square feet on the 17th floor, with a contiguous block of ±72,000 square feet still available.
During his tenure as President and Head of Leasing at Tricera Capital, he was instrumental in developing and implementing the company’s institutional leasing platform, a testament to his ability to drive growth.
Oak Row Equities purchased the $38.5 million site off-market.
JLL was also involved in the 2023 sale of the resort to Trinity and funds advised by UBS Asset Management, which represented the third largest single-asset hotel sale ever in the U.S. at the time.
The property is currently over 90 percent sold.
Here are the most popular news headlines this past week on CRE-sources.
The project will consist of a Class A, two-building, variable-depth multi-tenant industrial development totaling 457,110 square feet situated on 30.78 acres.
BEC Realty Trust, led by Frank Espinosa, paid $9,200,000, the full asking price, marking a twenty-five percent increase in value.
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