Synovus Financial Corp. Provides $6.4M Acquisition Loan For West Palm Beach Medical And Professional Office At 5601 Corporate Way
5601 Corporate Way, West Palm Beach, FL, USA
$6,400,000
$119/SF
Building Size
53,760 SF
Asset Type
Office
Closing
Nov 3, 2021
About this deal
AI
Located at 5601 Corporate Way in West Palm Beach, this property is a medical and professional office spanning approximately 53,760 square feet. The transaction took place on November 3, 2021.
Summary of transaction details
- Property Type: Medical and Professional Office
- Transaction Amount: $6,400,000
- Address: 5601 Corporate Way, West Palm Beach
- Market: West Palm Beach
- Lender: Synovus Financial Corp.
- Landlord: Steven Samuels
- Brokers: Kathy Anderson & H. Wayne Griest - Progress Capital
The loan for this acquisition was provided by Synovus Financial Corp. as the lender. The landlord in this transaction is Steven Samuels. The brokers who facilitated the deal were Kathy Anderson and H. Wayne Griest, representing Progress Capital.
Players
West Palm Beach 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93