Deutsche Bank Provides $90 Million Loan For Office Building On PGA Boulevard In Palm Beach Gardens
FINANCED
$90,000,000
Florida
See Similar DealsOffice217,000 SF
Financed 06/27/2022
FINANCED
Deutsche Bank Provides $90 Million Loan For Office Building On PGA Boulevard In Palm Beach Gardens
3835 Pga Boulevard, Palm Beach Gardens, Florida 33410, United States
See Similar DealsOffice217,000 SF
Financed 06/27/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$414
Total Square Footage:217,000 SF
Transaction Type:Loan
Located at 3835 PGA Boulevard in Palm Beach Gardens, this office property spans approximately 217,000 square feet. The transaction involving this asset took place on June 27, 2022. The property is owned by Gatsby Realty and the loan for its recapitilization was provided by Deutsche Bank. The loan amount for this transaction was $90,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $90,000,000
- Address: 3835 PGA Boulevard
- Market: Palm Beach Gardens
- Lender: Deutsche Bank
- Landlord: Gatsby Realty
- Brokers: Charles Foschini, Scott Wadler, and Robert Iudice - Berkadia
The brokers involved in this deal were Charles Foschini, Scott Wadler, and Robert Iudice from Berkadia. They represented the parties in negotiating and finalizing the transaction.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$90,000,000.00
Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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