US Century Bank Refinances Industrial Portfolio In Lake Worth, Sunrise, And Plantation, FL For $15.21M

The transaction involved a portfolio of four industrial properties located at 2211-2223 2nd Avenue North, 4851-4891 NW 103rd Avenue, 4700 N Hiatus Road, and 4202-4360 Peters Road in the markets of Lake Worth, Sunrise, and Plantation, FL. The properties encompass a total of 160,000 square feet. The refinancing of this portfolio was facilitated through a loan amounting to $15,210,000, featuring a fixed interest rate of 4.45% with interest-only payments, secured under a 5-year non-recourse loan structure.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $15,210,000
• Lender: US Century Bank
• Landlord: Patrick Carney & Jeffrey Pechter – Mindful Capital
• Broker: Eric Trombly - Black Bear Capital Partners
• Loan Type: Refinance
• Loan Terms: 5-year non-recourse fixed-rate loan at 4.45% with interest-only payments

Key individuals involved in this transaction include Patrick Carney and Jeffrey Pechter, who are the landlords representing Mindful Capital. The transaction was brokered by Eric Trombly representing Black Bear Capital Partners. The refinancing provided liquidity and facilitated the continued operation and growth of the industrial portfolio.