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Ameris Bank Provides $29.7M Loan For Office Buildings In Delray Beach

Property Image
FINANCED
$29,700,000
Ronald (Ron) Granite
Jason Hochman

Florida

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Office175,965 SF
Financed 08/15/2022
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Property Image
FINANCED

Ameris Bank Provides $29.7M Loan For Office Buildings In Delray Beach

1615 South Congress Avenue, Delray Beach, Florida 33445, United States

See Similar Deals
Office175,965 SF
Financed 08/15/2022
Ronald (Ron) Granite
Jason Hochman
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$168
Total Square Footage:175,965 SF
Transaction Type:Loan

Two office properties in Delray Beach, located at 1615 & 1625 S Congress Ave, have been involved in a recent loan transaction. The properties have a combined square footage of 175,965 and sit on 12 acres of land. The loan amount for this transaction is $29,700,000.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $29,700,000
  • Address: 1615 & 1625 S Congress Ave, Delray Beach
  • Square Footage: 175,965
  • Acres: 12

The lender for this loan transaction is Ameris Bank. The landlord of the properties is G&C Arbors Investors, LLC. Jason Hochman and Ron Granite from Cushman & Wakefield served as the brokers in the deal.

Players

Jason Hochman
Cushman & Wakefield
Jason Hochman
28 deals$1B volume
BROKER
Ronald (Ron) Granite
Cushman & Wakefield
Ronald Granite
19 deals$886.5M volume
BROKER
Newmark
Newmark
BROKERAGE
Ameris Bank
Ameris Bank
LENDER

Details

FINANCED
IMAGE: Jason Hochman & Ron Granite DATE: 08/15/2022 ADDRESS: 1615 & 1625 S Congress Ave MARKET: Delray Beach ASSET TYPE: Office ~ SF: 175,965 ~ ACRES: 12 LENDER: Ameris Bank (@AmerisBank) LANDLORD: G&C Arbors Investors, LLC BROKERS: Jason Hochman (@JasonHochman) & Ron Granite - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $29,700,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,700,000.00

Monthly NOI$198,000.00
Monthly Debt Service$187,724.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00