Vanderbilt Office Properties And Trinity Capital Advisors Secure $96 Million Loan For Northbridge Centre

The property involved is a 294,493-square-foot office asset located at 515 North Flagler Drive in West Palm Beach. It is currently 92% leased. Vanderbilt Office Properties and Trinity Capital Advisors have recently completed renovations, investing over $18 million to enhance the building's appeal in a competitive market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $96,000,000
• Lender: Paul Vanderslice - BMO
• Landlord: Vanderbilt Office Properties & Trinity Capital Advisors
• Broker Representatives: Amy Julian & Andrew Chilgren - CBRE
• Loan Type: Refinance

This refinancing transaction reflects the involvement of key stakeholders, including the investment group who has successfully secured financing to further improve and sustain the office property in a market where Class A vacancies have significantly decreased and rental rates have increased by more than 50%.