Codina Partners Closes On $124M Loan, Becomes Sole Owner Of Downtown Doral Residential Complex
Codina Partners previously co-owned Tower One with Invesco, while solely owning Tower Two.
Codina Partners previously co-owned Tower One with Invesco, while solely owning Tower Two.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Paul Stasaitis and Associate Maddy McMillen.
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.
“Having achieved 90 percent lease-up prior to breaking ground, this center shows the continued strength of large format brick-and-mortar retail destinations across multiple use categories.”
The purchase equates to $219 per square foot. CLICK ON THE HEADLINE FOR MORE
HFF also secured a $61 million, 10-year, fixed-rate loan for the buyer. CLICK ON THE HEADLINE FOR MORE
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