Grover Corlew Secures $47.5M Refinance From City National Bank For Boca Raton Office Campus

The property asset involved in this transaction is a fully redeveloped office campus located at 1489 & 1499 West Palmetto Park Road in Boca Raton. This Class A property encompasses a total square footage of 170,000 and has undergone over $60 million in improvements. It is currently over 80% leased to various tenants.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $47,500,000
• Lender: David Lukes - City National Bank of Florida
• Landlord: Mark Corlew & Anuj Grover - Grover Corlew
• Loan Type: Refinance

In this transaction, Grover Corlew has secured a refinancing loan of $47.5 million from City National Bank of Florida. The deal emphasizes the engagement of David Lukes as the lender, while Mark Corlew and Anuj Grover represent the interests of the landlord in this significant property transaction.