CBRE Facilitates Sale Of Congress Center Medical Center In West Palm Beach
CBRE’s Ben Silver and Evan Fript represented the seller, Excelsior Capital, in the transaction.
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CBRE’s Ben Silver and Evan Fript represented the seller, Excelsior Capital, in the transaction.
The floating-rate bridge loan will be used to refinance the property’s existing construction financing and fund remaining completion costs for the project, which topped out in October 2025 and is expected to deliver in mid-2026.
Colliers’ Kevin Gonzalez and Ana Paula represented the landlord in the transaction. Nickel Goeseke of Cervera Real Estate represented the tenant.
Evan Kristol along with Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller and procured the buyer.
The financing package includes $124.2 million in C-PACE capital from Nuveen Green Capital (NGC), marking the largest C-PACE-financed multifamily transaction in the state of Florida to date.
The transaction pencils out to approximately $266 per square foot.
Jonathan De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, represented the sellers in the transaction.
Cushman & Wakefield’s Scott O’Donnell, Deme Mekras, Miguel Alcivar, Greg Miller and Mike Ciadella represented iHeart in the transaction.
The 126,000-square-foot Class A+ waterfront office building is expected to be completed in early 2027.
Cushman & Wakefield’s Dominic Montazemi, Mike Davis, Rick Brugge, Rick Colon and Mike Ciadella represented the seller in the transaction.
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