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MHCommercial Real Estate Fund And Waterfall Asset Management Refinance Office In Palm Beach Gardens For $43M
FINANCED
$43,000,000
Florida
See Similar DealsOffice243,000 SF
Financed 08/19/2025
FINANCED
MHCommercial Real Estate Fund And Waterfall Asset Management Refinance Office In Palm Beach Gardens For $43M
11760 Us Route 1
See Similar DealsOffice243,000 SF
Financed 08/19/2025
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$177
Total Square Footage:243,000 SF
Transaction Type:Loan
The property involved is an office asset located at 11760 Us Route 1, Palm Beach Gardens, with a total area of 243,000 square feet. The transaction involves a refinance loan amounting to $43,000,000, characterized by a five-year loan term.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $43,000,000
- Loan Amount: $43,000,000
- Loan Type: Refinance
- Loan Terms: five-year
- Market: Palm Beach Gardens
- Landlord: Neil E. Merin & Jordan C. Paul - MHCommercial Real Estate Fund; Tom Capasse - Waterfall Asset Management
- Brokers: David Gahagan & Chandler Kaye - NorthMarq
The deal was facilitated by NorthMarq, which arranged the refinance loan through Deutsche Bank. The landlord entities involved are the MHCommercial Real Estate Fund, represented by Neil E. Merin and Jordan C. Paul, along with Tom Capasse from Waterfall Asset Management.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,000,000.00
Monthly NOI$286,666.67
Monthly Debt Service$271,789.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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