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
$39,000,000
$359/SF
Building Size
108,482 SF
Asset Type
Office
Closing
Apr 7, 2022
About this deal
AI
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
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit Maxx Carney to view all their deals.
Browse Florida office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93