The Easton Group Secures $20 Million Refinancing For Doral Office Building
The permanent financing provided by City National Bank paid off a bridge loan that Easton used to acquire the Offices at Doral Square for $28.5 million in December 2023.
The permanent financing provided by City National Bank paid off a bridge loan that Easton used to acquire the Offices at Doral Square for $28.5 million in December 2023.
As a result of this successful transaction, the team has been designated as the sales broker to market three additional office buildings and one retail building in the immediate area.
The property includes 45,770 square feet of office space, 11,255 square feet of ground-floor retail, and a 40,000 square-foot parking garage, all contributing to a steady income.
Located at Ponce de Leon Boulevard and Bird Road in Coral Gables, 4000 Ponce features 150,000 square feet of Class A office space and 32,000 square feet of prime ground-floor retail. The building is more than 90% leased.
He will work closely with Lee & Associates South Florida Principal Bert Checa, who heads up the firm’s Office Landlord Agency and Tenant Representation team.
The JV will expand their portfolio with the development of five Class A medical office buildings in Florida.
The bank also inked a 13,000-square-foot lease at Related Companies’ 360 Rosemary office building in West Palm Beach.
In their new roles, they will primarily focus on debt and equity advisory across various property types, reinforcing the team’s expertise and regional presence.
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.
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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