Ocean Bank Finances $41.4M Purchase Of Doral Office Buildings
Senior Vice Presidents Juan Mendiola and Federico Tunnerman arranged the loan for Ocean Bank.
Senior Vice Presidents Juan Mendiola and Federico Tunnerman arranged the loan for Ocean Bank.
The mixed-use building is now fully leased.
Originally acquired in 2021, the campus was repositioned through a multi-year strategy to concentrate tenancy, enhance the office assets and unlock a portion of the site for residential development, enabling two distinct paths for value creation.
The asset was 84.1% leased at the time of the transaction.
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The 8-story tower features 25,000-square-foot floorplates, a 10,000-square-foot fine-dining restaurant, and an exclusive tenant-only rooftop patio.
The office expansion follows the company’s launch of a commercial real estate investment fund targeting $100 million to acquire and develop early childhood education properties nationwide.
“This refinancing reflects both the quality of the portfolio assets and continued strength of the Boca Raton office market,” PEBB Enterprises CEO Ian Weiner said.
The new loan replaces a $20 million loan provided by Amerant Bank in 2024.
The lease deal was negotiated by Gordon Messinger of CBRE.
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