The property, which was 100% occupied, closed on May 12 for $11 million.
Seneca Town Center is anticipated to be one of the first of many major redevelopment projects throughout the Town of Pembroke Park.
Paul Ahmed and Mackenzie Lampman with CBRE Capital Markets worked on behalf of the borrower, a private investor, to arrange a seven-year, fixed-rate loan from Bank United.
The seller achieved 25% asset appreciation in 14 months with a strategic value-add plan.
The lease brings Miami’s MedSquare Place to full occupancy prior to delivery.
Gordon Messinger, Executive Vice President with CBRE, represented the landlord and developer in the transaction.
The ultramodern Chamberlain University campus in Miramar will include over 56,000 square feet of space to house lecture-style classrooms, science labs, and simulation care centers, along with an admissions center, faculty offices, and student amenities, such as study areas and lounges.
The buildings total approximately 62,000 square feet.
CBRE’s Gordon Messinger represented the landlord, MAS*AJP, in the transactions.
The 120,000-square-foot medical center will offer teams of physicians, an on-site lab, pharmacy, and an AI-powered diagnostic center.
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