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City National Bank Provides $83 Million Loan For Office Building In Boca Raton

Property Image
FINANCED
$83,000,000
Michael (Thomas) Basinski
Jaret Turkell
Brad Williamson
+ 3

Florida

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Office650,000 SF
Financed 04/06/2023
the dealplayerscompscontact
Property Image
FINANCED

City National Bank Provides $83 Million Loan For Office Building In Boca Raton

6600 North Military Trail

See Similar Deals
Office650,000 SF
Financed 04/06/2023
Michael (Thomas) Basinski
Jaret Turkell
Brad Williamson
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$127
Total Square Footage:650,000 SF
Transaction Type:Loan

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.

Players

Brad Williamson
Berkadia
Brad Williamson
107 deals$6.8B volume(786) 646-2580
BROKER
Mitch Sinberg
Berkadia
Mitch Sinberg
131 deals$8.3B volume(561) 609-4006
BROKER
Matthew (Matt) Robbins
Berkadia
Matthew Robbins
113 deals$6.8B volume
BROKER
Scott Wadler
Berkadia
Scott Wadler
160 deals$9.8B volume
BROKER
Jaret Turkell
Berkadia
Jaret Turkell
49 deals$3.2B volume
BROKER
Michael (Thomas) Basinski
Berkadia
Michael Basinski
40 deals$3.7B volume
BROKER
PEBB Enterprises
PEBB Enterprises
BROKERAGE
City National Bank
City National Bank
LENDER
PEBB Enterprises
PEBB Enterprises
LANDLORD
BH Group
BH Group
LANDLORD

Details

FINANCED
IMAGE: Michael Basinski, Brad Williamson, Jaret Turkell, Mitch Sinberg, Scott Wadler, Omar Morales, Ian Weiner & Yitzak Toledano DATE: 04/06/2023 ADDRESS: 6600 North Military Trail MARKET: Boca Raton ASSET TYPE: Office ~ SF: 650,000 LENDER: City National Bank (@CityNationalBank) BORROWER: Ian Weiner - Pebb Enterprises & Yitzak Toledano - BH Group BROKERS: Scott Wadler (@SWadler1), Jaret Turkell (@Deal_Crush), Mitch Sinberg (@TheJewishIceberg), Brad Williamson, Matthew (Matt) Robbins & Michael (Thomas) Basinski (@MichaelThomasBasinski) - Berkadia (@Berkadia) LOAN AMOUNT: $83,000,000 LOAN TYPE: Senior loan plus mezzanine loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$83,000,000.00

Monthly NOI$553,333.33
Monthly Debt Service$524,616.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00