Keiser University Secures $131.7M Acquisition Loan For West Palm Beach Office Property
2085 Vista Parkway
$131,720,000
$22/SF
Building Size
6,000,000 SF
Asset Type
Office
Closing
Feb 28, 2023
About this deal
AI
The property involved in this transaction is an office space located at 2085 Vista Parkway in West Palm Beach. The property spans a total of 6,000,000 square feet.
Summary of transation details
- Property Type: Office
- Transaction Amount: $131,720,000
- Lender: Ameris Bank, Amerant, SouthState Bank, Locality Bank, TD Bank
- Landlord: Keiser University
- Brokers: Spencer Miller, AJ Felberbaum, and Jay Miller representing BayBridge Real Estate Capital; Paul Tanner representing Las Olas Capital Advisors
In terms of financing, the loan amount for this acquisition is $131,720,000. The loan was provided by various lenders, including Ameris Bank, Amerant, SouthState Bank, Locality Bank, and TD Bank.
On the Map
$131,720,000
$22/SF
Office
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Players
Market 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93