TPG Provides $48.6M Loan For Office Acquisition In Fort Lauderdale
500 West Cypress Creek Road, Fort Lauderdale, FL, USA
$48,575,000
$1,939/SF
Building Size
25,051 SF
Asset Type
Office
Closing
Jun 2, 2020
About this deal
AI
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.
On the Map
$48,575,000
$1,939/SF
Office
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Players
Fort Lauderdale 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93