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
About this deal
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.
On the Map
$29,900,000
$357/SF
Office
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Players
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