City National Bank Provides $83 Million Loan For Office Building In Boca Raton
6600 North Military Trail
$83,000,000
$127/SF
Building Size
650,000 SF
Asset Type
Office
Closing
Apr 6, 2023
About this deal
AI
Located at 6600 North Military Trail in Boca Raton, this office property spans 650,000 square feet. The transaction involved a closed loan deal.
Summary of transaction details
- Property Type: Office
- Address: 6600 North Military Trail
- Market: Boca Raton
- Loan Amount: $83,000,000
The lender for this transaction was City National Bank. The borrower included Ian Weiner from Pebb Enterprises and Yitzak Toledano from BH Group. The loan type was a combination of a senior loan and a mezzanine loan.
Several brokers represented the parties involved in the deal. Scott Wadler, Jaret Turkell, Mitch Sinberg, Brad Williamson, Matthew (Matt) Robbins, and Michael (Thomas) Basinski from Berkadia handled the brokerage for this transaction.
On the Map
$83,000,000
$127/SF
Office
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Players
Market 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93