FINANCEDOffice
Ullico Refinances Delray Beach Office Building For $35M Loan
110 East Atlantic Avenue, Delray Beach, Florida 33444, United States
$35,000,000
$728/SF
Building Size
48,077 SF
Asset Type
Office
Closing
Jun 9, 2022
AI
Ullico has provided a $35 million loan to refinance an office property located at 110 E. Atlantic Ave. in Delray Beach, FL. The asset has a total square footage of 48,077 and is owned by Menin Development.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $35,000,000
- Address: 110 E. Atlantic Ave., Delray Beach, FL
- Market: Delray Beach, FL
- Square Footage: 48,077 SF
- Lender: Ullico
- Landlord: Menin Development
The loan transaction was facilitated by Richard Horowitz & Justin Horowitz from Cooper Horowitz LLC.
Players
Delray Beach Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93