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Keiser University Secures $131.7M Acquisition Loan For West Palm Beach Office Property

Property Image
FINANCED
$131,720,000
Paul Tanner
Spencer Miller
Jay Miller
+ 1

Florida

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Office6,000,000 SF
Financed 02/28/2023
the dealplayerscompscontact
Property Image
FINANCED

Keiser University Secures $131.7M Acquisition Loan For West Palm Beach Office Property

2085 Vista Parkway

See Similar Deals
Office6,000,000 SF
Financed 02/28/2023
Paul Tanner
Spencer Miller
Jay Miller
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$22
Total Square Footage:6,000,000 SF
Transaction Type:Loan

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

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.

Players

Aj Felberbaum
BayBridge Real Estate Capital
Aj Felberbaum
31 deals$2.4B volume(646) 213-7600
BROKER
Jay Miller
BayBridge Real Estate Capital
Jay Miller
34 deals$2.6B volume(646) 213-7561
BROKER
Spencer Miller
BayBridge Real Estate Capital
Spencer Miller
30 deals$2.4B volume
BROKER
Paul Tanner
Las Olas Capital Advisors
Paul Tanner
2 deals$172.4M volume
BROKER
TD Bank
TD Bank
LENDER

Details

FINANCED
IMAGE: Paul Tanner, Spencer Miller, Jay Miller & AJ Felberbaum DATE: 02/28/2023 ADDRESS: 2085 Vista Parkway MARKET: West Palm Beach ASSET TYPE: Office ~ SF: 6,000,000 LENDER: Ameris Bank (@AmerisBank), Amerant (@AmerantBank), SouthState Bank (@SouthStateBank), Locality Bank (@LocalityBank), TD Bank (@TDBank_US) LANDLORD: Keiser University BROKERS: Spencer Miller, Aj Felberbaum & Jay Miller - BayBridge Real Estate Capital; Paul Tanner - Las Olas Capital Advisors (@LasOlasCap) LOAN AMOUNT: $131,720,000 LOAN TYPE: Acquisition Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$131,720,000.00

Monthly NOI$878,133.33
Monthly Debt Service$832,560.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00