MSD Partners Provides $242.5M Construction Loan For West Palm Beach Office Project
142 Lakeview Avenue, West Palm Beach, Florida 33401, United States
$242,500,000
$898/SF
Building Size
270,000 SF
Asset Type
Office
Closing
Oct 3, 2022
About this deal
AI
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.
On the Map
$242,500,000
$898/SF
Office
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Players
West Palm 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
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93