Cushman & Wakefield Arranges $18M Loan On Boca Raton Office Building
FINANCED
$18,000,000
+ 1
Florida
See Similar DealsOffice269,000 SF
Financed 03/18/2021
FINANCED
Cushman & Wakefield Arranges $18M Loan On Boca Raton Office Building
1499 West Palmetto Park Road, Boca Raton, FL, USA
See Similar DealsOffice269,000 SF
Financed 03/18/2021
+ 1
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$66
Total Square Footage:269,000 SF
Transaction Type:Loan
1499 Palmetto Place, an office property located in Boca Raton, was involved in a closed transaction on March 18, 2021. The property spans across 269,000 square feet and is owned by Grover Corlew.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $18,000,000
- Market: Boca Raton
The loan for this transaction was provided by Grant Street, a fixed-rate, non-recourse loan. Cushman & Wakefield represented both parties in the deal, with Jason Hochman, Mike Ciadella, and Ron Granite serving as the brokers.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,000,000.00
Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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