Bank Of America Provides $39M Refinance Loan For 108,482 SF Office Property In West Palm Beach, FL
FINANCED
$39,000,000
Florida
See Similar DealsOffice108,482 SF
Financed 04/08/2022
FINANCED
Bank Of America Provides $39M Refinance Loan For 108,482 SF Office Property In West Palm Beach, FL
625 North Flagler Drive, West Palm Beach, Florida 33401, United States
See Similar DealsOffice108,482 SF
Financed 04/08/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$359
Total Square Footage:108,482 SF
Transaction Type:Loan
The office building located at 625 N. Flagler Dr. in West Palm Beach, FL has recently undergone a loan refinancing. The property spans approximately 108,482 square feet and is owned by FRI Investors, represented by Will McCloskey. The loan was provided by Bank of America, with a total loan amount of $39,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $39,000,000
The lender's representatives in this transaction were Maxx Carney and Ike Ojala. Their involvement helped facilitate the loan refinancing for the property at 625 N. Flagler Dr.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,000,000.00
Monthly NOI$260,000.00
Monthly Debt Service$246,506.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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