TPG Provides $48.6M Loan For Office Acquisition In Fort Lauderdale
FINANCED
$48,575,000
Florida
See Similar DealsOffice25,051 SF
Financed 06/02/2020
FINANCED
TPG Provides $48.6M Loan For Office Acquisition In Fort Lauderdale
500 West Cypress Creek Road, Fort Lauderdale, FL, USA
See Similar DealsOffice25,051 SF
Financed 06/02/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$1,939
Total Square Footage:25,051 SF
Transaction Type:Loan
Located at 500 & 550 West Cypress Creek Road in Fort Lauderdale, this office property has recently undergone an acquisition. The property, owned by Feldman Equities, was acquired with a loan from TPG. The loan amount of $48,575,000 facilitated the purchase of this office asset.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $48,575,000
- Address: 500 & 550 West Cypress Creek Road, Fort Lauderdale
- Market: Fort Lauderdale
- Loan Type: Acquisition
- Lender: TPG
- Landlord: Feldman Equities
- Brokers: Ryan Horowitz - Cooper-Horowitz
Ryan Horowitz from Cooper-Horowitz represented the parties involved in this office acquisition deal. The partnership between Feldman Equities, the landlord, and TPG, the lender, was instrumental in facilitating this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,575,000.00
Monthly NOI$323,833.33
Monthly Debt Service$307,027.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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