JLL Completes Sale, Financing For Trophy Asset In Palm Beach County
JLL’s Seniors Housing Capital Markets team procured the buyer, AEW Capital Management, and secured the three-year acquisition loan through Capital One Bank on behalf of the buyer.
JLL’s Seniors Housing Capital Markets team procured the buyer, AEW Capital Management, and secured the three-year acquisition loan through Capital One Bank on behalf of the buyer.
Codina Partners previously co-owned Tower One with Invesco, while solely owning Tower Two.
The transaction marks the highest value attributed to a freestanding restaurant property in Florida’s history, showcasing the demand for irreplaceable assets in Miami’s exclusive South of Fifth neighborhood.
The portfolio totals 495,674 square feet.
Situated on 15 acres, the facility offers a 30-foot clear height, 29 loading docks, 236 parking spaces and 116,000 square feet of freezer space.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Paul Stasaitis and Associate Maddy McMillen.
He will oversee daily brokerage operations, including recruiting, hiring, training and developing agents and staff.
JLL Capital Markets arranged the financing for the 210,000-square-foot portfolio.
The 347,740-square-foot grocery-anchored retail center is situated on over 18 acres and boasts an impressive leasing rate of 98.3%.
JLL represented the seller, Continental Realty Corporation. An affiliate of JBL Asset Management acquired the asset.
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