Grover Corlew Secures $61M Refinance From Wells Fargo For Boca Raton Office Assets

The assets involved in the transaction are two office properties located at 120 & 150 East Palmetto Park Road, Boca Raton. The combined square footage of these properties is 176,103. The refinancing loan amount for these assets is $61,000,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $61,000,000
• Lender: Wells Fargo
• Landlord: Mark Corlew - Grover Corlew
• Loan Type: Refinance

Grover Corlew executed the refinancing of the properties after investing $16,000,000 in upgrades that increased occupancy to over 90%. The loan originated from Wells Fargo and was subsequently transitioned to its CMBS platform, demonstrating the lender's confidence in the repositioning strategy of the firm.