MSD Partners Provides $242.5M Construction Loan For West Palm Beach Office Project
FINANCED
$242,500,000
Florida
See Similar DealsOffice270,000 SF
Financed 10/04/2022
FINANCED
MSD Partners Provides $242.5M Construction Loan For West Palm Beach Office Project
142 Lakeview Avenue, West Palm Beach, Florida 33401, United States
See Similar DealsOffice270,000 SF
Financed 10/04/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$898
Total Square Footage:270,000 SF
Transaction Type:Loan
Located at 142 Lakeview Avenue in West Palm Beach, this office property spans approximately 270,000 square feet. The transaction involved a construction loan valued at $242,500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $242,500,000
- Address: 142 Lakeview Avenue
- Market: West Palm Beach
- Lender: MSD Partners - Michael Dell
- Landlord: Related Companies - Stephen Ross
The loan was provided by MSD Partners, with Michael Dell representing the lending company. The landlord for the property is Related Companies, with Stephen Ross acting as the company's representative. This transaction highlights the collaboration between two prominent figures, Stephen Ross and Michael Dell.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$242,500,000.00
Monthly NOI$1,616,666.67
Monthly Debt Service$1,532,764.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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