Cushman & Wakefield Arranges $29.7M Refinancing Loan For Delray Central Office Portfolio
Jason Hochman and Ron Granite of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the loan through Ameris Bank.
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Jason Hochman and Ron Granite of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the loan through Ameris Bank.
Under the proposed special area plan, Sunbeam Properties would build 1,936 residential units, including 117 units of workforce housing, 870,000 square feet of office/retail space, a 112,500-square-foot hotel with about 300 rooms, and about 5,000 parking spaces.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam J. Tiktin and Alex Lazo represented the seller, GSK Hollywood Development Group, LLC.
This 11,423 square foot building has unparalleled exposure from I-95 as well as convenient access from I-95, and is zoned “D-1”, allowing the future owner to capitalize on benefits designated under the Neighborhood Revitalization district which permits development of up to a ten-story building.
CBRE’s Nicolas Palazzo and Andrew Fernandez brokered the deal.
Broward College will use the entire fourth floor for classrooms, labs, and meeting space that promote educational goals, including general educational development degrees and college-entry preparation.
Managing Director Scott Wadler, Senior Director Matthew Nihan and Senior Analyst Michael Basinski of Berkadia Miami secured the financing.
The property includes five acres of vacant land and an existing 13,000 square foot building built.
Marcus & Millichap’s First Vice President Investments Ryan Shaw, along with Quinn Sousa, had the exclusive listing to bring the generational assets to market for the first time.
The lease allows Tricera to seamlessly backfill space to be vacated by Comerica Bank, which is moving out of 1675 Midtown when its lease expires in June 2023.
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