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1801 North Military Trail

Ian Weiner & Eric Hochman Of PEBB Enterprises Secure $29.9M Refinance Loan For Office In West Palm Beach
FINANCEDOffice

Ian Weiner & Eric Hochman Of PEBB Enterprises Secure $29.9M Refinance Loan For Office In West Palm Beach

1801 North Military Trail

$29,900,000

$357/SF

Building Size

83,688 SF

Asset Type

Office

Closing

Apr 21, 2025

AI

The asset involved in this transaction is an office property located at 1801 North Military Trail in West Palm Beach, encompassing a total square footage of 83,688. The property secured a refinance loan amounting to $29,900,000, facilitated by Abanca USA and BankUnited.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $29,900,000
  • Address: 1801 North Military Trail
  • Market: West Palm Beach
  • Lender: Abanca USA
  • Lender: BankUnited
  • Landlord: Ian Weiner & Eric Hochman - PEBB Enterprises
  • Brokers: Daniel Rosenberg & Maxx Carney - Bellwether Enterprise (BWE); Tal Bar-or - Lantern Real Estate
  • Loan Type: Refinance

PEBB Enterprises, represented by Ian Weiner and Eric Hochman, executed this refinancing to cover their holdings, securing $16 million for Eighteen Zero One and an additional $13.9 million for Restaurant Row in Boca Raton, with advisory support from Lantern Company and BWE.

Players

Maxx Carney

Bellwether Enterprise (BWE)

Broker

$987M

vol

20 deals

Broker
JLL
JLLBrokerage
Abanca USA
Abanca USALender
Ian Weiner

Ian Weiner

PEBB Enterprises

Landlord

$392.6M

vol

23 deals

Landlord
PEBB Enterprises
PEBB EnterprisesLandlord

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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93