Decker Capital Acquires Four Parcel Industrial Asset In Vero Beach For $50.3M With City National Bank Loan

The transaction involves an industrial asset consisting of four parcels located at 670 8th Court, 1516 State Avenue, 456 Lpga Boulevard, and 640 Oak Place in the markets of Vero Beach, Holly Hill, and Port Orange. The total loan amount for the acquisition is $34,800,000 with terms set for 5 years. The overall acquisition price for the property is $50,300,000 and encompasses a square footage of 408,611.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $50,300,000
• Loan Amount: $34,800,000
• Loan Type: Acquisition
• Loan Terms: 5 Years
• Lender: City National Bank of Florida
• Landlord: Decker Capital
• Broker: Nancy Dockerty - Dockerty Romer & Co.
• Market: Vero Beach, Holly Hill & Port Orange

Nancy Dockerty noted that Decker Capital, through a joint venture partnership with Viking Partners, acquired the asset which is highly sought after due to the strength of the industrial market in this corridor of Florida. The financing was provided by City National Bank of Florida, facilitated by veteran Commercial Real Estate banker David Lukes, Senior Vice President.